Egypt's Ministry of Transport hiked Cairo's metro fares by up to 250% in a sudden move that angered more than 3 million Egyptian commuters. The decision adds to the already high costs of living amid recent austerity measures taken as part of a $12 billion IMF loan agreement signed in 2016.

Effective May 11, the base fare will be 3 Egyptian pounds ($0.17) for up to nine stops, 5 pounds ($0.28) for 10-16 stops and 7 pounds ($0.39) for more than 16 stops. The increase will not affect students, the elderly and people with special needs. The ministry had previously raised the fare from 1 to 2 pounds for an unlimited number of stops in March 2017.

The metro fares and the expected third round of energy subsidy cuts in July will burden Egyptians who have already been hit hard since Egypt floated its currency in late 2016. The inflation rate reached a record high after the government lifted fuel subsidies in July last year for the second time.

The Ministry of Transport announced May 10 that higher fares were needed to keep the metro running and to finance improvements and extensions that aim to serve more people in the capital. It explained that the Egyptian Company for Metro Management and Operation (ECMO) is suffering a heavy budget deficit.