Egypt has spent around EGP 45 billion on fuel subsidies during the first half of fiscal year (FY) 2018/19, Minister of Petroleum Tarek El Molla told Amr Adib in El Hekaya TV Program.

The latest figures reveal that the government is on track to keep within the 2018/19 fuel subsidies budget, which allocates a total of EGP 89 billion to be spent over the course of the 2018/19 fiscal year.

Egypt pays around $450 million per month for fuel imports in order to cover local demand, an official source at the Egyptian General Petroleum Corporation (EGPC) previously told Amwal Al Ghad.