Cairo - Mubasher: The chairman of the Egyptian central agency for public mobilization and statistics (CAPMAS) said that cutting oil subsidies will increase the transportation tariff rates by around 10% to 15%.
Abu Bakr El Gendi said in a TV interview that lifting subsides is at the end for the benefit of the ordinary citizen, as it helps to allocate subsides to those who deserve it.
The Chairman of CAPMAS added that he believes that these billions that will be saved from cutting subsidies will be used to increase the public spending on health and education.
On Friday, the Egyptian oil minister said in a press conference that the government expects to save arounf EGP 22 billion from its recent decision to cut fuel subsides as part of its economic reform plan.
