EGP Devaluation | Egypt Oil & Gas

FiT Challenged with Devaluation Backlash

Construction companies and solar firms withdrew from new and renewable energy projects due to increased costs as a result of EGP devaluation.

Fuel Subsides to Reach EGP 64b

The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that the cost of fuel subsidy will increase to EGP 64b during fiscal year 2016/2017 after the current devaluation.

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