Cairo – Mubasher: Egypt’s minister of petroleum and mineral resources Tarek El-Molla said that subsidies on petroleum products rose during the first nine months of fiscal year 2016/2017 by 90.2% year-on-year, Reuters reported on Wednesday.
Fuel subsidies increased in the nine-month period ended 31 March 2017 to EGP 78 billion from EGP 41 billion in the same period last year.
Egypt's economic reform programme includes a gradual reduction of subsidies on petroleum products and electricity over three years.
