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|23 January, 2019

Egypt's fuel subsidy bill drops nearly 15% Y/Y in July-Dec - minister

Egypt's fuel subsidy bill stood at around $2.43bln in July-December last year, says Tarek El Molla

Image used for illustrative purpose. A worker fills the tank of a car at a petrol station in Cairo, March 12, 2013.

Image used for illustrative purpose. A worker fills the tank of a car at a petrol station in Cairo, March 12, 2013.

REUTERS/Mohamed Abd El Ghany

CAIRO  - Egypt's fuel subsidy bill stood at around 43.5 billion Egyptian pounds ($2.43 billion) in July-December last year, Oil Minister Tarek El Molla told Reuters on Wednesday, 14.7 percent down on the same period in 2017.

Egypt has budgeted for fuel subsidies estimated at 90 billion pounds for the 2018-2019 financial year, which ends in June.

($1 = 17.9000 Egyptian pounds)

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(Reporting by Ahmed Ismail Writing by Aidan Lewis Editing by Andrew Heavens) ((Aidan.Lewis@tr.com; +20-1001174410;))

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