Egyptians ’fuel consumption declined during the first half of the current fiscal year ending in June 2021, by nearly 44% compared to last year’s consumption.
This consumption also fell from the government’s own expectations by nearly 45%.
Today, Thursday, the Egyptian Minister of Petroleum said that support for petroleum products fell by about 45% in the first half of the current fiscal year 2020-2021.
Minister Tariq Al-Mulla said in statements to Reuters that “subsidies for petroleum products fell to 8.4 billion pounds (537.8 million dollars) in the first half from 14.1 billion pounds in the budget, compared to 15.25 billion pounds a year ago.”
The Ministry of Finance aims that petroleum subsidies for the current fiscal year will reach 28.193 billion pounds.
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