VOL. XXXIV

NO. 5

5-NOVEMBER-1990

Egypt

Kandil Predicts Oil Earnings of $2Bn in FY 1990-91

Egyptian Oil Minister Abd El-Hady Kandil said in an interview with Reuter on27 October that he expects Egypt to double its oil earnings to $2bn in thefiscal year ending on 30 June 1991 as a result of higher prices brought about by the Gulf crisis and lower local consumption stemming from higherproduct prices at home. He said that the higher domestic product prices have forthe first time forced consumption to...