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Energy subsidies will be zero by FY 2020/2021: Shaker

Minister of Electricity and Renewable Energy Mohamed Shaker announced that energy subsidies will be zero by fiscal year (FY) 2020/2021, a change from previous plans that were meant to terminate the subsidies by 2019. This came during a monthly meeting at the American Chamber of Commerce in Egypt (AmCham) on Sunday under the title “Future …

Nevine Kamel

Egypt looking at energy subsidies to cut deficit

By Patrick Werr and Sherine El Madany / Reuters CAIRO: Egypt is pinning its hopes on natural gas to help it reduce energy subsidies that are eating up 20 percent of its state budget and are likely to continue growing if measures aren’t taken soon. For years, the government has resisted cutting subsidies for fear of …

DNE

Egypt to decide soon on energy subsidy phase-out

CAIRO: Egypt is finalizing plans for the removal of energy subsidies for its industrial sector, a phase-out agreed on since 2007, the country’s trade and industry minister said on Thursday. Trade Minister Mahmoud Eissa told the Reuters Middle East Investment Summit he expected a final decision on how the phase-out will take place before the …

DNE

Egypt mulls reducing energy subsidies

CAIRO: Egypt is currently studying the possibility of reducing energy subsidies to the industrial sector, Trade and Industry Minister Mahmoud Eisa said in a statement. The move would reduce subsidies to energy-intensive factories as the ministerial committee of energy is currently looking for alternatives to reach a “consensual resolution to ensure the safety of the …

DNE

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