Egypt’s first democratically elected president, Mohamed Morsi, inherited a challenging energy legacy. His new government was left with a system of unsustainable energy subsidies, an inadequate upstream pricing regime, and a looming gas and power shortage.
Given the country’s precarious economic situation, extensive street protests and polarised electorate, any attempts at widespread reform may have been doomed from the outset. However, during his year in power, Morsi failed to take the swift and decisive policy action needed to address the country’s growing energy crisis.
“My view is...
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