Middle East Economic Survey

VOL. LII

No 25

22-Jun-2009

EGYPT

Cairo Slashes Gas Subsidies, In Effort To Slow Local Demand Growth

The Egyptian government is to reduce its subsidies on gas supplies to domestic households by 78% in the coming fiscal year, local media reported last week. Officials at the Ministry of Finance said that gas subsidies would be reduced to E1.5bn ($270mn) in the new budget, compared with E6.5bn ($1.2bn) in the 2008-2009 budget, in accordance with the governments policy of...