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Fuel subsidies phasing out faces significant challenges which must be faced: WB

According to the recent report issued by the Energy Sector Management Assistance Programme (ESMAP) which is administrated by the World Bank (WB), Egypt’s economy was adversely affected by a growing energy deficit, in the aftermath of the Arab Spring , slowing economic growth, increasing poverty, and socioeconomic transition. Egypt faced growing fiscal pressures. With fossil …

Daily News Egypt

About 75% of fuel subsidies phased out till now, projected to be fully cut by 2020: secretary of fuel division at FECC

All the actions which have been taken since November 2016 until now definitely aim to boost economic growth, reform the Egyptian economy, according to the Secretary of Petroleum and Fuel Division at Federation of Egyptian Chambers of Commerce (FECC) Mohamed Abdel Moneam. He added that phasing out fuel subsidies is an essential procedure for the …

Daily News Egypt

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