Egypt’s fuel subsidy bill falls 45% in July-Dec - minister

Egypt’s fuel subsidy bill dropped to $537.8mln between July and December 2020

  
A worker fills a car's tank at the CO-OP petrol station in Cairo, Egypt April 2, 2020. Picture taken April 2, 2020.

A worker fills a car's tank at the CO-OP petrol station in Cairo, Egypt April 2, 2020. Picture taken April 2, 2020.

REUTERS/Mohamed Abd El Ghany

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))

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