Egypt’s fuel subsidy bill drops nearly 15% in six months: minister

By Amwal Al Ghad English On Jan 23, 2019

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla.

Egypt’s fuel subsidy bill registered around 43.5 billion Egyptian pounds ($2.43 billion) between July-December 2018 period, Oil Minister Tarek el-Molla told Reuters on Wednesday, 14.7 percent down on the same period in 2017.

Egypt has budgeted for fuel subsidies estimated at 90 billion pounds for the financial year 2018/2019, which ends in June. ($1 = 17.9000 Egyptian pounds)

Source: Reuters