SPEED ROUND: BUDGET WATCH

Gov’t to slash subsidies doled out to help water companies cover expenses

State water companies will no longer be getting subsidies from the state to cover their spending shortfall starting next fiscal year, according to the FY2021-2022 draft budget (pdf). The final subsidy payment to those companies, some EGP 750 mn, is expected to be received by the end of the ongoing fiscal year, figures from the…