A look at the Egyptian fuel subsidy reform plan
#Economy #Employment #News #Politics #EGYPT
Rédaction Ecomnews Med
Tuesday 6 November 2018 Last update on Tuesday, November 6, 2018 At 10:27 PM

When you have no choices left, some big decisions become easy to take. The Egyptian government's decision to reduce fuel subsidies is a key part of the ongoing economic reform plan that was spurred by the $12 billion loan agreement signed in 2016 with the IMF in order to promote higher growth and restore economic stability. The Egyptian President Abdel Fattah el-Sisi has recently revealed that the Minister of Petroleum Tariq El Molla has requested raising funds for subsidy allocations to $125 billion, but begged citizens to be patient, as the country may find itself with some difficulties in securing subsidies.

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