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Latest on Daily News Egypt


Business

Egypt targets 26% subsidy cuts for petroleum products, 47% for electricity

The Egyptian government aims to cut petroleum subsidies by about 26%, and electricity subsidies by 47% in the draft budget for fiscal year (FY) 2018/19, according to Reuters. The government document allegedly obtained by the news agency showed that the value of subsidies in the new budget amounted to EGP 89.075bn, down from about EGP …