Egypt Fuel Subsidies May Reach $19 Billion in 2012

Egypt’s fuel subsidies are expected to reach 114 billion Egyptian pounds ($18.9 billion) in 2012 compared with 100 billion pounds in the previous year, Al Mal reported, cited Hani Dahi, chairman of Egyptian General Petroleum Corp.

Egypt spent $6 billion on imports of oil products in 2011, the Cairo-based newspaper cited Dahi as saying.

Source: Bloomberg 





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