Egypt’s National Authority for Tunnels (NAT) chief said the Cairo metro faces a small-change shortage, but official data and Transport Ministry sources dispute both the claim and rumors of a fare hike.
During a TV interview Tuesday, NAT Chairperson Tarek Gewaily spoke about the authority’s projects, including the metro, before his comments sparked debate on social media.
“We have a very big problem right now, which is change,” Gewaily said. He explained that many riders use the 8-pound ticket, meaning he needs to provide 300,000 pounds in small change every day, adding that it is difficult to secure that amount from the Central Bank.
Coin minting crisis
While Gewaily pointed to a crisis in coin minting and a lack of imported raw materials, Central Bank data show an increase in the production of 1-pound coins. Monthly issuance rose from 1.75 billion pounds in 2021 to 2.784 billion pounds in 2025, an increase of nearly 60%—the same increase cited for the value of 1-pound coins held by the public.
A review of the metro’s ticket-price over the past seven years suggests the current fare structure requires fewer coins than earlier phases. Current prices are 8, 10, 15 and 20 pounds, payable with full banknotes and requiring no change except for the lowest fare. By contrast, the fare increase approved in August 2018 included 3-, 5- and 7-pound categories.
The ministry also approved a fare increase in January 2024, setting categories at 6, 8 and 12 pounds, yet more dependent on small change. Despite that, the authority did not cite coin shortages as a reason for raising prices at the time.
Instead, Transport Minister Kamel Al-Wazir attributed the move to higher operating, maintenance and wage costs. Finance Ministry data contradict that claim.
Finance data at the time indicated operating revenue already covered core costs and generated a surplus, and that recorded deficits were primarily linked to debt burdens and investment installments for new projects, not to day-to-day operating expenses.
Added burden on passengers
From an economic perspective, researcher Salma Hussein warned against what she described as “change inflation,” saying that raising prices to compensate for a currency shortage shifts responsibility to the public for an issue rooted in monetary policy.
Hussein said a proposed 20% increase is twice the general inflation rate and equivalent to seven times wage growth. She estimated that even a small difference in the ticket price could cut about 192 pounds per month from a person’s income (about 3% of the minimum wage) adding pressure on families living around the poverty line.
No fare increase planned
Gewaily’s remarks carried another dimension that a senior Transport Ministry source told Al Manassa was inaccurate.
Asked by TV host Ahmed Moussa whether the change shortage would push the ministry to raise prices by 2 pounds, Gewaily said: “Yes, we hope so.”
A ministry source, however, said the ministry does not intend to raise prices at this time, especially as the deficit between metro spending and revenue has fallen to 96 million pounds, after reaching 380 million pounds in the 2024/2025 budget and 1.8 billion pounds in fiscal year 2023/2022.
The source, who asked not to be named, said Gewaily’s statements were “in the context of addressing the change shortage only,” noting it has caused crowding and confrontations at ticket windows, but does not mean any fare increase has been approved.
The source said the authority is working to maximize metro resources by expanding commercial use of its assets, led by advertising and kiosks, alongside governance measures and spending rationalization to reach break-even point.
