Research company foresees primary deficit of 1.1% of GDP in current FY
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The government pledged to the IMF to raise fuel prices and apply a smartcard system
The government announced approval for the new budget on Monday after reducing the deficit to approximately EGP 240bn, in large part due to new measures rationing petroleum subsidies.
Mobil and Shell fuel stations nationwide equipped with experimental smartcards to test efficacy of system
Cards aimed at cutting smuggling, recording consumption
Egypt’s fuel shortages are forcing many businesses to shut down, sparking tensions between consumers at gas stations as they park their cars for hours waiting for gas