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Egypt energy subsidy bill to rise by 10-12% next year: Minister

Reuters – Egypt’s Finance Minister said on Sunday spending on energy subsidies next year will be 10-12% above the EGP 130bn ($18.66bn) budgeted for the current fiscal year, unless immediate reforms are made. Successive governments have stressed the importance of reducing energy subsidies, which account for more than 20% of state spending, but none have …

Daily News Egypt

Revolving Doors: Egypt deputy finance minister quits

By Farah Halime, Rebel Economy Egypt’s deputy finance minister, Hany Kadry Dimian, has left his post after six years in the ministry, a source at the finance ministry told Rebel Economy, delivering a blow to the country’s chances of concluding a loan agreement with the International Monetary Fund. Mr Dimian, who has served as the deputy …

Daily News Egypt

Finance minister-designate commits to market economy

By Edmund Blair / Reuters CAIRO: Egypt’s finance minister-designate told Reuters on Tuesday that the government was committed to a market economy and to creating an environment in which investors could predict the future “reasonably well.” Hazem El-Beblawi, who has yet to take the oath of office, said he did not rule out the possibility of …

DNE

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