News Artcle

Oil minister: Egypt 'suffering' from fuel subsidies

Published January 11, 2016

Cairo • Egypt’s petroleum minister said Monday the country is “suffering” due to fuel subsidies, saying these funds are better diverted to other areas such as health care and education. Tarek el-Molla, speaking at a conference in Cairo, showed in a presentation that between July and September 2015, the government paid 42 percent of the cost of 92-octane gasoline, which is used to fuel private vehicles owned by more affluent Egyptians. While a liter of 92-octane gasoline cost 4.5 Egyptian pounds ...

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