Egypt energy subsidy bill fell 27% in 9 months of FY2015/16: official

Egypt’s energy subsidy bill reached 41 billion Egyptian pounds ($4.62 billion) during the first nine months of the financial year 2015-16, down 27 percent from 56 billion in 2014-2015, an oil ministry official told Reuters Thursday.

Oil Minister Tarek El Molla said earlier on Tuesday that the bill would reach between 45 and 48 billion pounds for the full year.