The new petroleum products’ subsidies come in line with Egypt’s economic program, which aims to boost the sector, Al-Ahram reported.

According to Khaled Kandil, member of the Supreme Committee of Al Wafd Party and Chairman of the Economic Committee of the Party, the 2019 budget that reached 301 billion pounds, and it was impossible to carry out any reforms without the support of petroleum products, which saved Egypt 37 billion in 2019.

Kandil further said that this is an important step taken towards the economic reform as this will be financing the implementation of a series of plans, including updating the ration card system which benefits 76 million in all Egyptian governorates.