Latest in Tag: energy subsidies Highlight
Latest in Tag: energy subsidies
Egypt slash fuel subsidies raising petrol and diesel prices by 25%
New price for octane 80 petrol, diesel set at EGP 6.75, octane 92 petrol EGP 8, LPG cylinder to EGP 65
EGP 89.75bn allocated for petroleum subsidies, EGP 16bn for energy subsidies in FY 2018/19
Food commodity subsidies increased by 36.6% to reach EGP 86bn
Energy subsidies will be zero by FY 2020/2021: Shaker
Minister of Electricity and Renewable Energy Mohamed Shaker announced that energy subsidies will be zero by fiscal year (FY) 2020/2021, a change from previous plans that were meant to terminate the subsidies by 2019. This came during a monthly meeting at the American Chamber of Commerce in Egypt (AmCham) on Sunday under the title “Future …
Government raises its energy subsidies forecast to EGP 225bn in the upcoming year
Petroleum products material subsidies amounts to EGP 145bn, electricity subsidies reaches EGP 80bn: Prime Minister
Government announces electricity price increase in subsidy reform strategy
The state is continuing its economic reform and liberalisation by scaling back subsidies on electricity consumption; it too early to see how the reforms will affect Egyptian consumers, says Arqaam Capital Researchers
Standard & Poor’s positive outlook on Egypt reflects well on investment: Economist
Agency raised Egypt’s economic outlook from stable to positive, affirming long- and short-term foreign and local currency sovereign credit ratings at ‘B-/B’
90% of energy subsidies to be lifted within 3 years: Finance minister
IMF assessment of Egypt’s economy still due before the economic summit, with goal to restore international market confidence, says Dimian
Egypt to invite IMF to assess economic reforms
Ministry of Finance says government will invite IMF before Egypt’s economic summit in February 2015
Al-Sisi’s economic orientation in his first month, and its influence
Measures to boost economy include reforming taxes and wages, adjusting prices and cutting fuel and electricity subsidies
Sudden energy subsidies cut will create lower-middle class outcry: Economist
Government increased petroleum product prices Saturday after cutting subsidies
Government unlikely to succeed in price control efforts: Former IMF official
Government cutting energy subsidies, preparing diesel and gasoline price increases, likely to exacerbate suffering of 26% of Egyptians under poverty line
New budget expected to include additional reductions to energy subsidies
An increase in petroleum prices and a cap on public sector wages expected in new budget which awaits Sisi’s approval
Prices of basic items to increase: Citizens Against Price Rises
Prices to increase due to production price increases affected by low energy subsidies, says Federation of Egyptian Chambers of Commerce
Economic reforms a ‘must’ for Egypt growth: Lagarde
IMF chief says there are “encouraging” signs in energy subsidy reform
Finance ministry to adopt ‘balanced’ fiscal policy
GPD growth rate will register between 2% and 2.5%, says finance minister
Government will not cut energy subsidies: Prime minister
Ibrahim Mehleb said his government is working on redistributing the energy subsidies to “offer it to those who deserve help”
Ministry of Finance to focus on unemployment and energy subsidies issues
Hany Qadry highlights the significance of “restructuring individual incomes” to revitalise the economy
Government aiming to boost public awareness of energy subsidies issue
“The next government will not be able to cut energy subsidies, nor any government,” says chairman of the division of petroleum products at the Federation of Egyptian Industries
Finance minister discusses current economic situation and challenges for next government
Galal discloses that the CBE has held onto a $9bn deposit since the 1990s, which the government will use to finance its two stimulus packages
Second stage of smartcard programme in the works: petroleum minister
Second stage implementation will follow delivery of smartcards to citizens and data entry
Prospective government faces daunting energy subsidies reforms
Slashing energy subsidies is one of the requirements set by the International Monetary Fund (IMF)to secure the proposed $4.8bn loan package.
Morsi’s adviser says “IMF responsible” for loan delay
IMF held up by lack of signs of political consensus over the $4.8bn
Egypt’s budget deficit estimated to hit EGP 197.5bn by end of June
Last year, the budget deficit reached EGP 134.996bn.
Egypt looking at energy subsidies to cut deficit
By Patrick Werr and Sherine El Madany / Reuters CAIRO: Egypt is pinning its hopes on natural gas to help it reduce energy subsidies that are eating up 20 percent of its state budget and are likely to continue growing if measures aren’t taken soon. For years, the government has resisted cutting subsidies for fear of …
Egypt to decide soon on energy subsidy phase-out
CAIRO: Egypt is finalizing plans for the removal of energy subsidies for its industrial sector, a phase-out agreed on since 2007, the country’s trade and industry minister said on Thursday. Trade Minister Mahmoud Eissa told the Reuters Middle East Investment Summit he expected a final decision on how the phase-out will take place before the …
Egypt mulls reducing energy subsidies
CAIRO: Egypt is currently studying the possibility of reducing energy subsidies to the industrial sector, Trade and Industry Minister Mahmoud Eisa said in a statement. The move would reduce subsidies to energy-intensive factories as the ministerial committee of energy is currently looking for alternatives to reach a “consensual resolution to ensure the safety of the …