Middle East Economic Survey
Egypt Raises Petroleum Products To Curb Budget Deficit
Egypts government on 21 July raised the prices of gasoline and diesel fuel by 30% and 25% respectively, according to a 20 July report in al-Ahram. The government intends to reduce energy subsidies (set up at around E40bn/$7bn) so as to curb the budget deficit forecast at more than 9% of GDP for the 2006-07 fiscal year. The price of 90-octane fuel was increased from E1.00/liter...