Cairo – Mubasher: Egypt’s fuel subsidy costs leaped by 34% to EGP 51 billion ($2.9 billion) in the first half of fiscal year 2017/2018 from EGP 38 billion, Petroleum minister Tarek El-Molla told Reuters on Wednesday.
Fuel products subsidies are still EGP 4 billion below the allocated amounts FY17/18 budget, the minister highlighted.
Fuel subsidies in the 2017/18 budget have been estimated by the government at about EGP 110 billion.
Given that the Egyptian government had raised fuel prices and cut its subsidy in June 2017
