Egyptian Minister of Finance, Amr El-Jarhi, stated that fuel and electricity subsidies are flawed and assured that moving the prices will aid in rebalancing the system
Egypt's draft 2015/2016 budget earmarks 61 billion Egyptian pounds ($8 billion) for fuel product subsidies, Tarek El Molla, chairman of state-run Egyptian General Petroleum Corp (EGPC), said in a statement on Saturday.