Decline in Egypt's Fuel Subsidy Bill

Egypt's fuel subsidy bill stood at around 43.5 billion Egyptian pounds (US$2.43 billion) in July-December last year, Oil Minister Tarek El Molla told Reuters on Wednesday, 14.7% down on the same period in 2017. Egypt has budgeted for fuel subsidies estimated at 90 billion pounds (US$5.02 billion) for the 2018-2019 financial year, which ends in June.