{"id":600308,"date":"2019-01-27T04:21:50","date_gmt":"2019-01-27T04:21:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/"},"modified":"2019-01-27T04:21:50","modified_gmt":"2019-01-27T04:21:50","slug":"egypts-fuel-subsidy-bill-falls-15-in-1h2018-19","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/","title":{"rendered":"Egypt\u2019s fuel subsidy bill falls 15% in 1H2018-19"},"content":{"rendered":"

State\u2019s fuel subsidy bill falls 15% in 1H2018-19:<\/b> Egypt\u2019s fuel subsidy bill fell 14.7% y-o-y in 1H2018-19 to EGP 43.5 bn, Oil Minister Tarek El Molla told Reuters on Wednesday<\/a>. Egypt is expecting to spend around EGP 90 bn in total on fuel subsidies in the fiscal year ending in June. Falling spending on fuel subsidies will be welcomed by the IMF, which held back on the latest USD 2 bn tranche of a USD 12 bn loan as it wanted to see how the country would continue to cut subsidies while implementing a new fuel pricing mechanism<\/a> for 95 octane fuel.<\/p>\n

Trial balloon: <\/b>The new mechanism will allow the price of fuel move up or down 10% in tandem with global markets when it is implemented in April. The government has plans to extend that fuel pricing mechanism to other grades of fuel. In related news, Egypt\u2019s consumption of fuel and natural gas fell 1.2% y-o-y in FY2017-18, according to Mubasher<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

State\u2019s fuel subsidy bill falls 15% in 1H2018-19: Egypt\u2019s fuel subsidy bill fell 14.7% y-o-y in 1H2018-19 to EGP 43.5 bn, Oil Minister Tarek El Molla told Reuters on Wednesday. Egypt is expecting to spend around EGP 90 bn in total on fuel subsidies in the fiscal year ending in June. Falling spending on fuel […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,819,272,2380,195],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600308","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-fuel","tag-imf","tag-speed-round","tag-tarek-el-molla","wpautop","entry"],"acf":{"mongo_id":"79a4f5ad-60f3-4eb6-a8b8-ccdc7aad34dc","is_powered_by":true,"section_story_id":"6a03f35b-57fb-46bb-bee1-f870adca389a","story_type":"1","photo_url":"","photo_position":"above","related_issue":[600290],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s fuel subsidy bill falls 15% in 1H2018-19 - 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\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s fuel subsidy bill falls 15% in 1H2018-19\" \/>\n<meta property=\"og:description\" content=\"State\u2019s fuel subsidy bill falls 15% in 1H2018-19: Egypt\u2019s fuel subsidy bill fell 14.7% y-o-y in 1H2018-19 to EGP 43.5 bn, Oil Minister Tarek El Molla told Reuters on Wednesday. Egypt is expecting to spend around EGP 90 bn in total on fuel subsidies in the fiscal year ending in June. Falling spending on fuel […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-27T04:21:50+00:00\" \/>\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\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s fuel subsidy bill falls 15% in 1H2018-19\",\"datePublished\":\"2019-01-27T04:21:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/\"},\"wordCount\":168,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"fuel\",\"IMF\",\"SPEED ROUND\",\"Tarek El Molla\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/\",\"name\":\"Egypt\u2019s fuel subsidy bill falls 15% in 1H2018-19 - 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Egypt has moved to gradually reduce fuel subsidy spending over the past\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":[]},{"id":637222,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/fuel-subsidy-spending-rises-68-y-o-y-in-1q2017-18-el-molla-says\/","url_meta":{"origin":600308,"position":1},"title":"Fuel subsidy spending rises 68% y-o-y in 1Q2017-18, El Molla says","author":"enterpriseam admin","date":"12 November 2017","format":false,"excerpt":"Fuel subsidy costs rose 68% y-o-y to EGP 23.5 bn in 1Q2017-18, up from EGP 14 bn in the same quarter of the previous fiscal year, Oil Minister Tarek El Molla told reporters yesterday, Reuters reports. The minister reaffirmed that the government would not raise fuel subsidies again during this\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":[]},{"id":596575,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/02\/is-egypts-fuel-pricing-mechanism-coming-into-effect-this-month\/","url_meta":{"origin":600308,"position":2},"title":"Is Egypt\u2019s fuel pricing mechanism coming into effect this month?","author":"enterpriseam admin","date":"2 July 2019","format":false,"excerpt":"Is Egypt\u2019s fuel pricing mechanism coming into effect this month? Speculation is rife in the local press that the Oil Ministry might begin moving prices on 95-octane fuel this month under the automatic fuel pricing mechanism, after it kept the price of 95-octane unchanged at EGP 7.75 per liter in\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\/2021\/1\/102.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591840,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/18\/govt-to-beat-fuel-subsidy-spending-targets-in-2q-govt-source\/","url_meta":{"origin":600308,"position":3},"title":"Gov\u2019t to beat fuel subsidy spending targets in 2Q - gov\u2019t source","author":"enterpriseam admin","date":"18 December 2019","format":false,"excerpt":"BUDGET WATCH- Gov\u2019t to beat fuel subsidy spending targets in 2Q -gov\u2019t source: The government will not spend more than EGP 10 bn on fuel subsidies in 2Q2019-2020, beating the EGP 13.23 bn quarterly allocations included in the state budget, an unnamed government source told Al Mal. Fuel subsidies spending\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":[]},{"id":597908,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/egypt-fuel-subsidies-spending-falls-28-in-the-first-nine-months-of-fy2018-19\/","url_meta":{"origin":600308,"position":4},"title":"Egypt fuel subsidies spending falls 28% in the first nine months of FY2018-19","author":"enterpriseam admin","date":"8 May 2019","format":false,"excerpt":"Fuel subsidies spending falls 28% in the first nine months of FY2018-19: Government spending on fuel subsidies fell to EGP 60.1 bn in the first nine months of FY2018-19, declining 28.45% y-o-y from EGP 84 bn during the same period a year earlier, Oil Minister Tarek El Molla told Reuters\u2019\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":[]},{"id":622815,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/","url_meta":{"origin":600308,"position":5},"title":"Did the Oil Ministry push for a lighter fuel subsidy cut?","author":"enterpriseam admin","date":"14 October 2018","format":false,"excerpt":"Was the presidency more aggressive on subsidy cuts than the oil ministry? President Abdel Fattah El Sisi reportedly said on Thursday that Oil Minister Tarek El Molla initially proposed a more modest cut to fuel subsidies and was pushed by the president to be more aggressive, according to Al Mal.\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\/600308","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=600308"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600308\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/600290"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=600308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=600308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=600308"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=600308"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=600308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}