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What a drag: Egypt’s smokers feel burn of price hikes

Cigarettes are getting more expensive in Egypt thanks to rising production costs spurred by the government’s economic reforms.
CAIRO, EGYPT - JUNE 4:  Egyptian men react with applause as they watch US President Barack Obama's key Middle East speech on TV in a coffee shop in the Islamic old city June 4, 2009 in Cairo, Egypt. In his speech, President Obama called for a "new beginning between the United States and Muslims", declaring that "this cycle of suspicion and discord must end".  (Photo by David Silverman/Getty Images)

More businesses and their cash-strapped customers are feeling the heat from a deal Egypt struck in November with the International Monetary Fund (IMF) for a critical $12 billion loan.

Currently, tobacco companies and smokers are taking a hit.

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