Egypt Energy Debts Reach EGP 800B
Debts owed by the Egyptian energy sector have reached around EGP 800 billion.
subsidies | Egypt Oil & Gas - Part 2
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).
IMF Recommends Further Cuts of Fuel Subsidies
The International Monetary Fund (IMF) believes that gas subsidies benefit mainly the rich, advising the Egyptian government to allow fuel prices to change in line with costs.
Electricity Receives EGP 3 B from Subsidies Allocations
The Egyptian Ministry of Electricity and Renewable Energy received EGP 3 billion late December as a part of the amounts allocated for electricity subsidies.
Egypt Spent EGP 23.8 B on Fuel Subsidies in Q1 2017/2018
Egypt has spent total EGP 23.8 billion on subsiding different petroleum products in the first quarter of fiscal year (FY) 2017/2018, saving EGP 4 billion from the allocated EGP 27.7 billion in the FY's budget.
Abu Kir Fertilizer to Decrease Profitability
The recent Cabinet decision to cut fuel subsidies obliged Abu Kir Fertilizers Company to decrease the prices of its products, the company's Head stated.
Diesel Subsidies Reach EGP 150m Following Recent Hike
Diesel subsidies' cost reached around EGP 150m per day following the recent fuel price increase as every 1 litre of diesel is subsidised by EGP3. Cabinet Explains Consequences of Fuel Price Increase
The government issued a number of social protection programs worth more than EGP 85b to protect low-income citizens from being negatively affected by the burdens of economic reform. El Jarhi: Cutting Fuel Subsidies to Aid Lower Income Groups
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
