{"id":622815,"date":"2018-10-14T04:22:53","date_gmt":"2018-10-14T04:22:53","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/"},"modified":"2018-10-14T04:22:53","modified_gmt":"2018-10-14T04:22:53","slug":"did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/","title":{"rendered":"Did the Oil Ministry push for a lighter fuel subsidy cut?"},"content":{"rendered":"

Was the presidency more aggressive on subsidy cuts than the oil ministry? <\/strong>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<\/a>. In a speech on Thursday for the Armed Forces\u2019 culture day, El Sisi said that El Molla had proposed an EGP 125 bn subsidy bill. Fuel subsidy spending in FY2018-19 is worth EGP 89 bn. El Sisi\u2019s stance appears to have been particularly prescient in light of the spike in global oil prices, which has already impacted Egypt\u2019s spending on fuel subsidies. Oil at USD 85\/bbl adds EGP 1.70-3.80 per liter to the state's subsidy bill, sources tell Al Shorouk<\/a>.<\/p>\n

El Sisi also pushed for the extradition of terrorist Hisham El Ashmawy<\/strong>, who is wanted for masterminding attacks against security forces, according to the Associated Press<\/a>. The former special forces officer was recently captured in Libya.<\/p>\n

The speech has been widely covered by the foreign press.<\/strong> Xinhua noted<\/a>El Sisi\u2019s description of the 25 January uprising as the \"wrong medicine for the wrong diagnosis.\" The Israeli press, meanwhile, was particularly fond<\/a> of El Sisi\u2019s car metaphors to describe the 1973 war. The president called Israel a Mercedes, Ynet reports, and Egypt a SEAT to highlight how much of an underdog Egypt was.<\/p>\n","protected":false},"excerpt":{"rendered":"

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. In a speech on Thursday […]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622815","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"80735aa9-1f95-4daa-88e0-73d1a60baa84","order":"0","is_powered_by":true,"section_story_id":"5cd808a9-7750-4e25-a09b-e8f1e1c7ac8b","story_type":"1","photo_url":"","photo_position":"above","related_issue":[622804],"teaser":"","voice_url":""},"yoast_head":"\nDid the Oil Ministry push for a lighter fuel subsidy cut? - 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\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Did the Oil Ministry push for a lighter fuel subsidy cut?\" \/>\n<meta property=\"og:description\" content=\"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. In a speech on Thursday […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-14T04:22:53+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\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Did the Oil Ministry push for a lighter fuel subsidy cut?\",\"datePublished\":\"2018-10-14T04:22:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/\"},\"wordCount\":244,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/14\/did-the-oil-ministry-push-for-a-lighter-fuel-subsidy-cut\/\",\"name\":\"Did the Oil Ministry push for a lighter fuel subsidy cut? 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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":600308,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/","url_meta":{"origin":622815,"position":1},"title":"Egypt\u2019s fuel subsidy bill falls 15% in 1H2018-19","author":"enterpriseam admin","date":"27 January 2019","format":false,"excerpt":"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\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":632346,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/08\/fuel-subsidies-expenditure-up-34-y-o-y\/","url_meta":{"origin":622815,"position":2},"title":"Fuel subsidies expenditure up 34% y-o-y","author":"enterpriseam admin","date":"8 February 2018","format":false,"excerpt":"Fuel subsidy costs are up 34% y-o-y in 1H2017-18, Oil Minister Tarek El Molla told Reuters. The cost has gone up to EGP 51 bn from EGP 38 bn, but El Molla notes that the spent amount remains EGP 4 bn below budgeted. In total, the government expects to spend\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":642265,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/09\/egp-float-drives-fuel-subsidy-spending-up-135-3-y-o-y\/","url_meta":{"origin":622815,"position":3},"title":"EGP float drives fuel subsidy spending up 135.3% y-o-y","author":"enterpriseam admin","date":"9 August 2017","format":false,"excerpt":"The EGP float has driven fuel subsidy costs up by 135.3% y-o-y, Oil Minister Tarek El Molla tells Reuters. Fuel subsidy costs increased to EGP 120 bn in FY 2016-17 from the EGP 51 bn spent in FY 2015-16. The government is projecting that spending on fuel subsidies will record\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637400,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/talking-heads-remain-concerned-about-the-fate-of-gerd\/","url_meta":{"origin":622815,"position":4},"title":"Talking heads remain concerned about the fate of GERD","author":"enterpriseam admin","date":"15 November 2017","format":false,"excerpt":"The airwaves served up an array of topics last night, including concerns over the Grand Ethiopian Renaissance Dam (GERD) talks and Egypt\u2019s fuel subsidy bill.The government is sticking to its plans to completely lift fuel subsidies within 4-5 years, but subsidies will remain at their current levels for the remainder\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637932,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/29\/is-the-government-going-to-revise-fuel-subsidy-cuts-for-fy2017-18\/","url_meta":{"origin":622815,"position":5},"title":"Is the government going to revise fuel subsidy cuts for FY2017-18?","author":"enterpriseam admin","date":"29 November 2017","format":false,"excerpt":"Is the government going to revisit its calculations on fuel subsidy cuts for FY2017-18? The Finance Ministry will review the impact of higher crude prices on Egypt\u2019s fuel subsidy bill for FY2017-18, said El Garhy at the press conference, according to Al Mal. 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