Middle East Economic Survey
Petroleum Products Subsidies To Reach $12Bn, Fahmy Says
Egypts petroleum products subsidy will reach E66bn ($12.07bn) in the 2009-10 fiscal year, Minister of Petroleum Sameh Fahmy announced on 5 January. The subsidy bill amounted to E33bn ($6.03bn) between 1 July, the start of Egypts fiscal year, and the end of December 2009. The subsidy for these products has to come from an entity other than the oil ministry, state news agency MENA...