Electricity subsidy bill seen at EGP65bn in FY16/17, up from budgeted EGP30bn – Presidency said
The electricity subsidy bill is estimated to reach EGP65bn, up from budgeted EGP30bn in FY16/17, according to a presidential statement, following a meeting between President Sisi and Minister of Electricity, Mohamed Shaker. The surge is due to the weakness of the EGP after the float despite a hike in tariffs, Presidency spokesperson said, quoting Shaker. (Ahram)
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