{"id":630075,"date":"2018-04-11T04:22:23","date_gmt":"2018-04-11T04:22:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/"},"modified":"2018-04-11T04:22:23","modified_gmt":"2018-04-11T04:22:23","slug":"govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/","title":{"rendered":"Gov\u2019t to cut fuel subsidies, increase food subsidies in FY2018-19"},"content":{"rendered":"<p><strong><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> BUDGET WATCH- More food subsidies, less spent on energy in FY2018-19:<\/strong> The government aims to reduce fuel subsidies by about 26% y-o-y to EGP 89.08 bn in FY2018-19, according to a government document <a href=\"https:\/\/af.reuters.com\/article\/commodities07News\/idAFL8N1RN26S\">referenced by Reuters<\/a>. The budget also reduces electricity subsidies by almost half to EGP 16 bn from EGP 30 bn, the statement said. The substantial cut in electricity subsidies next year comes as the ministry plans to eliminate electricity subsidies by FY2020-2021. Egypt raised fuel and electricity prices by 50% and 42% respectively in July of last year, sending inflation shooting up. From <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/10\/budget-discussions-at-the-house-start-ahead-of-schedule\/\">what we\u2019re hearing from MPs in the House of Representatives\u2019 Budget Committee<\/a>, these cuts are expected to come in one swoop. It is expected that these cuts would reduce budget costs by USD 2.4 bn (c. EGP 42 bn), says Reuters.<\/p>\n<p><strong>Food subsidies are set to move in the opposite direction<\/strong>, increasing 5% y-o-y to EGP 86.18 bn during the year, the newswire added. Overall, spending on social welfare and protection programs and commodity subsidies <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/03\/legislation-watch-ride-hailing-apps-bill-faces-final-vote-next-week-after-clause-on-state-access-to-data-amended-2018-19-budget-is-now-with-the-house-for-debate\/\">is expected to reach EGP 322 bn<\/a> next fiscal year.<\/p>\n<p><strong>Export subsidies are also expected to see an increase in FY2018-19<\/strong>, <a href=\"http:\/\/www.almalnews.com\/Story\/371914\/14\/%D8%A8%D8%A7%D9%84%D8%A3%D8%B1%D9%82%D8%A7%D9%85---%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D9%84%D9%80-2018-2019\">according to Al Mal<\/a>. These are expected to get as high as EGP 4 bn, up from EGP 2.6 bn in FY2017-18.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BUDGET WATCH- More food subsidies, less spent on energy in FY2018-19: The government aims to reduce fuel subsidies by about 26% y-o-y to EGP 89.08 bn in FY2018-19, according to a government document referenced by Reuters. The budget also reduces electricity subsidies by almost half to EGP 16 bn from EGP 30 bn, the statement [&hellip;]<\/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-630075","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"02833b45-a778-4e19-a652-b3f7ae653111","order":"0","is_powered_by":true,"section_story_id":"37d57bc7-c7c1-4e32-a348-9d8a50d775c5","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630066],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t to cut fuel subsidies, increase food subsidies in FY2018-19 - 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\/2018\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t to cut fuel subsidies, increase food subsidies in FY2018-19\" \/>\n<meta property=\"og:description\" content=\"BUDGET WATCH- More food subsidies, less spent on energy in FY2018-19: The government aims to reduce fuel subsidies by about 26% y-o-y to EGP 89.08 bn in FY2018-19, according to a government document referenced by Reuters. The budget also reduces electricity subsidies by almost half to EGP 16 bn from EGP 30 bn, the statement [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-11T04:22:23+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\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t to cut fuel subsidies, increase food subsidies in FY2018-19\",\"datePublished\":\"2018-04-11T04:22:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/\"},\"wordCount\":219,\"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\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/\",\"name\":\"Gov\u2019t to cut fuel subsidies, increase food subsidies in FY2018-19 - 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The numbers El Hariri tweeted vary widely\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":591526,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/egypts-fuel-subsidy-spending-falls-69-y-o-y-in-1q2019-2020\/","url_meta":{"origin":630075,"position":2},"title":"Egypt\u2019s fuel subsidy spending falls 69% y-o-y in 1Q2019-2020","author":"enterpriseam admin","date":"9 December 2019","format":false,"excerpt":"BUDGET WATCH- Fuel subsidy spending plunges in 1Q2019-2020: Government spending on fuel subsidies fell 69% y-o-y in 1Q2019-2020 to EGP 7.25 bn from EGP 23.25 bn in 1Q2018-2019, Oil Minister Tarek El Molla said yesterday, according to Reuters. Egypt has moved to gradually reduce fuel subsidy spending over the past\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":599942,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/15\/egp-2-4-bn-expected-increase-in-staples-subsidies-in-2018-2019-fiscal-year\/","url_meta":{"origin":630075,"position":3},"title":"EGP 2.4 bn expected increase in staples subsidies in 2018\/2019 fiscal year","author":"enterpriseam admin","date":"15 January 2019","format":false,"excerpt":"Gov\u2019t spending on subsidies looks set to exceed budget targets: Subsidies for staple items are expected to exceed the FY2018-19 budget by about EGP 2.4 bn,a source from the Supply Ministry told Al Mal. The government spent an additional EGP 900 mn in 1H2018-19 on commodity subsidies, the source said,\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":569021,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/11\/egypts-govt-records-budget-deficit-of-3-8-in-1h2019-20-report\/","url_meta":{"origin":630075,"position":4},"title":"Egypt\u2019s gov\u2019t records budget deficit of 3.8% in 1H2019-20- report","author":"enterpriseam admin","date":"11 February 2020","format":false,"excerpt":"BUDGET WATCH- Gov\u2019t records budget deficit of 3.8% in 1H2019-2020: The Finance Ministry\u2019s semi-annual fiscal performance report showed a budget deficit of EGP 236.7 bn (3.8% of GDP) in the first half of FY2019-2020, compared to EGP 186.7 bn (3.6%) in July-December of FY2018-2019. Revenues for the period came at\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/146.jpg?fit=%2C&ssl=1&resize=350%2C200","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":630075,"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 &quot;Speed Round&quot;","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\/630075","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=630075"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630075\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630066"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630075"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630075"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}