subsidies

Egypt’s Petroleum Subsidies Stand at EGP 28B in 2022/23 Budget

The state’s draft general budget for fiscal year (FY) 2022/23 allocated an estimated EGP 28.094 billion for petroleum subsidies, 52.6% more than petroleum subsidies in the 2021/22 budget which amounted to EGP 18.4 ...

Egypt’s Biggest Budget Sees EGP 52.9 B Petroleum Subsidies

Petroleum product subsidies have been decreased by nearly 40% to EGP 52.9 billion in the public budget for fiscal year 2019/2020.

Egypt to Cut Petroleum Subsidies by 42% in FY 2019/20

The Egyptian government decided decreasing petroleum products subsidies by 42% in the budget plan of fiscal year (FY) 2019/20.

Electricity Sector to Pay Down Debts to Petroleum Ministry over Five Years

The Egyptian electricity sector is set to pay down the total debts to the Ministry of Petroleum within five years.

MPs Question Gas Price Increases

Members of parliament requested on June 22 to send a letter to Prime Minister Mostafa Madbouly and Minister of Petroleum Tarek El Molla asking them to explain the reasons behind the latest increase in natural gas ...

Egyptian Government to Hike Electricity Prices by 26%

Electricity prices will increase by an average of 26% on July 1 as subsidy cuts included in the 2018/19 fiscal budget are introduced.

Egypt Pays $75 a Barrel to Import Fuel

The Egyptian government announced in an official document that fuel imports cost $75 per barrel.

Egypt Determined to Complete Energy Reforms

The Egyptian government is determined to complete the energy subsidies’ reforms within the framework of the economic reform program agreed upon with the International Monetary Fund (IMF).

Egypt Energy Debts Reach EGP 800B

Debts owed by the Egyptian energy sector have reached around EGP 800 billion.

Egypt Plans Energy Subsidies Reduction

The Egyptian government plans to reduce subsidies of petroleum products by 26% and electricity subsidies by 47% in the annual budget for the 2018/2019 fiscal year (FY).

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