Latest in Tag: Subsidy Highlight
Latest in Tag: Subsidy
EGP 324.4 spending on subsidy in FY 2017/2018
The spending on subsidy in state budget reached  EGP 324.4 in fiscal year (FY) 2017/2018 compared to EGP 276.7bn in FY 2016/2017, of which EGP 81bn for ration goods and bread subsidy, according to Minister of Finance Mohamed Maiet. Maiet said that the governmentâs subsidy program for food commodities witnessed the largest increase in allocations …
Fuel subsidy cut does not affect car sales: experts
95 gasoline is the best economically for popular cars on the long term: Masrouga
Government considers doubling bread subsidy points to reduce consumptionÂ
Citizens will receive 20 piastres instead of 10 on every unbought loaf
Energy subsidy cuts, take its toll on the average Egyptians
Egypt, a country with a population of 90m, where more than 28% of them live below the poverty line, has been suffering following the 25 January Revolution in 2011 from economic challenges and political instability. These factors intensified Egyptâs already-existing structural problems. Since November 2016, when the authorities started to implement the economic reform programme …
EGP 22bn allocated to increase subsidy support from EGP 21 to EGP 50: Kojak
Social package costs total EGP 75bn: Moeit
Increased cash support for subsidy cardholders is not enough: expert
Egypt floated its currency on Thursday, allowing it to fall from its previous peg of EGP 8.88 to the US dollar to between EGP 13 and EGP 16. This is the final push to secure the three-year International Monetary Fund (IMF) programme within days. In another step toward securing $12bn from the IMF, the government …
Al-Haqaneya files lawsuit against health minister’s decision on baby formula
The lawsuit appeals the decision to raise the price of subsidised baby formula and to limit the number of beneficiaries
Health Ministry amends conditions for distributing subsidised baby formula
The current shortage of subsidised baby formula has sparked anger and worry among families
Expenditure on subsidy, grants, social benefits increased by 52% in July-October FY 2015/2016
The increase was attributed to a rise in bread and ration commodity subsidy marking 32.7%
Subsidy bill jumps to EGP 15.8bn in July-August 2015: CAPMAS
Rationed commodities acquire largest amount in subsidy bill, amounting to EGP 8.3bn compared to EGP 4.4bn during period of comparison
EGP 44bn tax revenue increase by end of April
Budget deficit increased to EGP 230.9bn from July 2014 to April 2015 representing 9.9% of the GDP
New amendments to system of export subsidies
The new intensives are related to the percentage of local component while SMEs still suffer
Subsidy cuts a âvery important stepâ: EU ambassador
EU ambassador to Egypt welcomes reduction of subsidies on petroleum products
Petroleum price hikes spark widespread outcry
âThugsâ forcing fuel stations to sell at old price yet police are unresponsive, petrol station manager
Food prices expected to rise 20% following fuel subsidy cut: Experts
Food products will rise by approximately 20% on higher costs of fuel used for transportation and production, says professor of agricultural economy
Gas prices increase to $8 per million BTUs for cement industry
An official source from a cement company who requested anonymity anticipated cement prices to increase in the coming days due to higher production costs.
Surge in fuel prices threatens food commodities
Fuel prices to reflect on food commodities, says head of Citizens Against Price Rises Association
Backlash against petroleum subsidy cuts as experts cite concern of effects on middle class
Cash support for poor may act as safety net, but biggest danger lies in creating new poor by cutting energy subsidies, says professor of socioeconomics Hania Al-Shalkamy
Electricity subsidy increases come to pay value of fuel consumed by stations: Energy expert
The increase allocated to the ministry amounts to approximately EGP 14bn and will not be sufficient to pay the value of fuel after amending the price to $3 per million BTUs compared to the previous $1.85
Egypt business activity shrinks in May: PMI
Reuters –Â Business activity in Egypt shrank for the third month in a row in May, a poll showed on Tuesday, in a sign the economy remains fragile as former army chief Abdel Fattah Al-Sisi is set to become the countryâs next president. Egyptâs economy has been hit by more than three years of political and …
Reducing energy subsidies is âgoodâ but may raise prices: Egyptian Steel chairman
Investors welcome the move to reduce energy subsidies, but ask government to protect the poor from expected price jumps through social programmes
Government agencies owe Ministry of Petroleum over EGP 150bn
Debts owed to the Ministry of Petroleum by other government agencies decreased to approximately EGP 156bn at the end of March, compared to EGP 172bn in February, after the Ministry of Finance paid part of its debts
Misr Al-Qawia criticises lifting natural gas prices
Cabinet announces price hike in natural gas starting May; party wary the price hike will do little to help Egyptâs energy crisis
A solution for Egyptâs fuel crisis?
The recurring petrol and diesel crises have left Egyptâs streets paralysed and the people angry. Despite the continuity of the diesel crisis throughout the past months, the petrol crisis is primarily affecting Egyptians from middle and upper classes, a phenomenon unprecedented on the current scale. The government has promised the crisis will end once the new smartcard system is in effect. The Daily News Egypt reviews the new system and asks people about the systemâs feasibility and convenience to their needs.
The IMF conundrum: austerity and unrest
Accepting the International Monetary Fund loan in Egypt means testing the publicâs willingness to endure a harsh economic climate
Digitised database will exclude 1.5 million from receiving subsidies: Ouda
Minister of Supply and Internal Trade expects 1.5 million citizens to be excluded from receiving subsidies after overhaul of statistics database system
Rebel economy wrap
Lost in translation: energy subsidies