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Egypt's spending on fuel subsidies in the first nine months of the 2018-2019 fiscal year (July 2018 to March 2019) was 60.
1 billion Egyptian pounds ($35.
1 billion), down 28.
45 percent
from a year earlier, Egypt's oil minister Tarek El Molla said on Tuesday.
Egypt has been reducing fuel subsidies as part of an IMF-backed reform program that began in 2016 and will eliminate subsidies
for most energy products by June this year.
In the first nine months of the 2017-2018 fiscal year, the government spent 84 billion Egyptian pounds (about $49 billion) on fuel subsidies
.
Egypt's spending on fuel subsidies in the first nine months of the 2018-2019 fiscal year (July 2018 to March 2019) was 60.
1 billion Egyptian pounds ($35.
1 billion), down 28.
45 percent
from a year earlier, Egypt's oil minister Tarek El Molla said on Tuesday.
Egypt has been reducing fuel subsidies as part of an IMF-backed reform program that began in 2016 and will eliminate subsidies
for most energy products by June this year.
In the first nine months of the 2017-2018 fiscal year, the government spent 84 billion Egyptian pounds (about $49 billion) on fuel subsidies
.
