Last Update 22:17
Friday, 15 November 2019

Egypt spent $3.51 bln on fuel subsidies in first nine months of FY 2018-2019: Minister

Reuters , Tuesday 7 May 2019
FILE PHOTO: Tarek El Molla, Egypt's Minister of Petroleum and Mineral Resources, arrives for a meeting at the Presidential Palace in Nicosia, Cyprus September 18, 2018 (Photo: Reuters)
Views: 1746
Views: 1746

Egypt spent 60.1 billion Egyptian pounds ($3.51 bln) on fuel subsidies in the first nine months of the 2018-2019 financial year, petroleum minister Tarek El Molla said on Tuesday, a drop of 28.45 percent from the same period the previous year.

Egypt has been reducing fuel subsidies as part of an IMF-backed reform programme that began in 2016, and is due to remove subsidies on most energy products by June.

The government spent 84 billion Egyptian pounds on fuel subsidies in the first nine months of the 2017-2018 financial year. The financial year runs from July to June.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.