CAIRO  - Egypt’s fuel subsidy bill fell 45% between July and December to 8.4 billion Egyptian pounds ($537.8 million), Petroleum Minister Tarek El-Molla said on Thursday.

The budgeted figured was 14.1 billion pounds, Molla told Reuters.

The Ministry of Finance's subsidy target for the current fiscal year ending in June is 28.193 billion pounds.

(Reporting by Ahmed Ismail; Writing by Mahmoud Mourad; editing by John Stonestreet) ((mahmoud.mourad@thomsonreuters.com))