EGP 28.2 B Allocated for Petroleum Products Subsidy in FY 2020/21

EGP 28.2 B Allocated for Petroleum Products Subsidy in FY 2020/21

Ministry of Finance has allocated EGP 28.2 billion to subsidize petroleum products in fiscal year (FY) 2020/21 budget, according to a statement.

The ministry allocated a total of EGP 2.2 trillion to FY 2020/21 budget, increasing from FY 2019/20 budget by EGP 138.6 billion. Ministry of Finance Mohamed Maait added that the budget included EGP 3.5 billion for natural gas delivery to about 1.3 million households. This aligns with the ministry of petroleum and mineral resources’ plan to extend the natural gas grid.

 

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