{"id":566014,"date":"2021-05-23T13:52:07","date_gmt":"2021-05-23T13:52:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/"},"modified":"2021-05-23T13:52:07","modified_gmt":"2021-05-23T13:52:07","slug":"govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/","title":{"rendered":"Gov\u2019t to slash subsidies doled out to help water companies cover expenses"},"content":{"rendered":"

<\/a> State water companies will no longer be getting subsidies from the state to cover their <\/strong>spending shortfall starting next fiscal year,<\/strong> according to the FY2021-2022 draft budget (pdf)<\/a>. 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 recently released budget, which is currently under discussion<\/a> at the House of Representatives, showed.<\/p>\n

What are those subsidies for? <\/strong>They\u2019re used by water companies to cover electricity costs, purchase raw materials, and pay for new equipment parts, a government source told El Watan<\/a> newspaper.<\/p>\n

Slashing the annual grants won\u2019t affect subsidies paid out to support household water consumption<\/strong>, the source said without elaborating.<\/p>\n

The government is targeting narrowing its budget deficit to 6.7% of GDP in FY2021-2022, <\/strong>from an expected 7.7% by the end of this fiscal year. Subsidy cuts are part of this plan, with fuel subsidy spending expected to drop<\/a> by nearly EGP 10 bn when the next fiscal year wraps up. Under the draft budget, the fuel cuts will more than offset a slight increase in subsidy spending in other areas including social welfare payments and commodities.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":1,"featured_media":566015,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10140],"tags":[279,2653,633,7111,190,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-budget-watch","tag-budget-watch","tag-budgeting","tag-enterprisepm","tag-infrastructure","tag-social-welfare","tag-subsidies","wpautop","entry"],"acf":{"mongo_id":"107de5fd-3c3c-48cf-809d-30bae0dfa53b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/420.jpg","photo_position":"above","related_issue":[566009],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t to slash subsidies doled out to help water companies cover expenses - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t to slash subsidies doled out to help water companies cover expenses\" \/>\n<meta property=\"og:description\" content=\"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 […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-23T13:52:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/420.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t to slash subsidies doled out to help water companies cover expenses\",\"datePublished\":\"2021-05-23T13:52:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/\"},\"wordCount\":208,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/420.jpg?fit=%2C&ssl=1\",\"keywords\":[\"budget watch\",\"budgeting\",\"EnterprisePM\",\"infrastructure\",\"social welfare\",\"subsidies\"],\"articleSection\":[\"SPEED ROUND: BUDGET WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/\",\"name\":\"Gov\u2019t to slash subsidies doled out to help water companies cover expenses - 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2022","format":false,"excerpt":"MPs raise flags on FY 2022-2023 budget allocations for subsidy + social safety net spending: Members of the House Planning and Budgeting Committee appear to be divided on whether the state should be upping its spend on commodity subsidies and expanding social safety programs, particularly as the Russia-Ukraine war has\u2026","rel":"","context":"In "BUDGET WATCH"","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/317.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546055,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/26\/electricity-subsidies-live-on\/","url_meta":{"origin":566014,"position":2},"title":"Electricity subsidies live on","author":"enterpriseam admin","date":"26 April 2022","format":false,"excerpt":"SETTING THE RECORD STRAIGHT - Electricity subsidies haven\u2019t been phased out. Electricity is and will continue to be subsidized by the state until the planned phase-out in 2025, Electricity Minister Mohamed Shaker was quoted as saying by Al Borsa yesterday. His comments came after Bloomberg Asharq reported that the government\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/358.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569707,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/egypt-mulls-increasing-budget-allocations-for-subsidies-in-fy2020-2021\/","url_meta":{"origin":566014,"position":3},"title":"Egypt mulls increasing budget allocations for subsidies in FY2020-2021","author":"enterpriseam admin","date":"4 March 2020","format":false,"excerpt":"BUDGET WATCH- Gov\u2019t mulls increasing subsidy allocations next fiscal year: The government is in talks with the House of Representative to discuss raising allocations for commodity subsidies to at least EGP 96 bn in the FY2020-2021 budget, from EGP 89 bn in the current fiscal year, Supply Minister Ali El\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/56.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554246,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/a-clear-vision-on-subsidies-coming-in-early-2022\/","url_meta":{"origin":566014,"position":4},"title":"A \u201cclear vision\u201d on subsidies coming in early 2022?","author":"enterpriseam admin","date":"27 December 2021","format":false,"excerpt":"The government will set out a \u201cclear vision\u201d on subsidies when preparing next fiscal year\u2019s state budget in March, Prime Minister Moustafa Madbouly said on Thursday. Speaking at a press conference to mark the first cabinet meeting to be held in the new administrative capital, Madbouly said that the government\u2026","rel":"","context":"In "BUDGET WATCH"","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570945,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/23\/egypt-nearly-halves-fuel-subsidy-spending-in-2020-2021-budget\/","url_meta":{"origin":566014,"position":5},"title":"Egypt nearly halves fuel subsidy spending in 2020-2021 budget","author":"enterpriseam admin","date":"23 April 2020","format":false,"excerpt":"FinMin nearly halves projected fuel subsidy spending in 2020-2021 budget: The Finance Ministry is allocating EGP 28.1 bn to subsidies for petroleum products in FY2020-2021, down by nearly half from EGP 52.9 bn in FY2019-2020 forecasts, according to figures obtained by Masrawy. Prior subsidy cuts, the collapse in global oil\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=566014"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566014\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566009"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566015"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566014"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566014"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}