Egypt’s fuel subsidy costs jumped 34% Y-o-Y in 1H17-18, Egyptian Minister of Petroleum Tarek El Molla said Wednesday. “Fuel product subsidies have reached about EGP51bn in the first six months of the current fiscal year, but we are still EGP4bn below allocated amounts for fuel subsidies in FY17-18,” El Molla told Reuters. The government had budgeted an estimated EGP110bn for fuel subsidies for the full fiscal year.
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