Categories · Tax
non-USA, by Country · Egypt
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Jump to full article: AP, 2008-05-06
Intro: Egyptians on Tuesday criticized fuel and cigarette price increases meant to fund a 30 percent hike in government salaries, worried the latest move by the authorities will once again leave them struggling to buy basic goods. . . .
Then, parliament late Monday passed a bill to muster up the US$3.6 billion needed for the salary raises. It increased taxes and cigarette prices . . .
Prime Minister Ahmed Nazif promised the parliament bill won't burden the low income class, but on Cairo streets, many were feeling the pinch. The cost of cigarettes, a necessity for many in this country of heavy smokers, went up by about 10 percent.
Mustafa Fathy said he would drop his brand, Marlboro, which now costs 9 Egyptian pounds, or US$1.70, for the local Cleopatra, at 3.50 Egyptian pounds, or 60 cents a pack.
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