government spending

  • Egypt’s Fuel Subsidies Fell 23%

    Egypt’s Fuel Subsidies Fell 23%

    Tuesday, 16th August 2016
    Egypt's spending on petroleum subsidies fell by 23% in 2015/16 to EGP 55b ($6.27b) from a targeted EGP 61b, Head of the Egyptian General Petroleum Corporation (EGPC),Tarek al-Hadidi said, citing a decline in global oil prices as the main drive to absorb the cuts.
  • UAE Lowers Domestic Fuel Prices, Increases Public Spending

    UAE Lowers Domestic Fuel Prices, Increases Public Spending

    Tuesday, 29th December 2015
    The UAE’s ministry of energy announced that it would lower domestic prices for gasoline and diesel in January, making a long anticipated move given the plunge in Brent crude.