{"id":647189,"date":"2017-05-04T03:54:19","date_gmt":"2017-05-04T03:54:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/04\/fuel-subsidies-up-90-2-in-the-first-nine-months-of-fy2016-17\/"},"modified":"2017-05-04T03:54:19","modified_gmt":"2017-05-04T03:54:19","slug":"fuel-subsidies-up-90-2-in-the-first-nine-months-of-fy2016-17","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/04\/fuel-subsidies-up-90-2-in-the-first-nine-months-of-fy2016-17\/","title":{"rendered":"Fuel subsidies up 90.2% in the first nine months of FY2016-17"},"content":{"rendered":"

Spending on fuel subsidies increased more than 90% to EGP 78 bn in the first nine <\/strong>months of FY2016-17<\/strong>, compared to EGP 41 bn in the same period in FY2015-16, Oil Minister Tarek El Molla told Reuters<\/a>. The cost of fuel imports increased significantly since the EGP was floated in November. The newswire says \u201cEgypt plans to gradually reduce fuel and power subsidies as part of reforms aimed at slashing the budget deficit.\u201d<\/p>\n

In related news, the Central Bank\u2019s net foreign reserves climbed to USD 28.64 bn at the <\/strong>end of April<\/strong>,up fractionally from USD 28.53 bn at the end of March,<\/strong> according to a CBE statement<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Spending on fuel subsidies increased more than 90% to EGP 78 bn in the first nine months of FY2016-17, compared to EGP 41 bn in the same period in FY2015-16, Oil Minister Tarek El Molla told Reuters. The cost of fuel imports increased significantly since the EGP was floated in November. The newswire says \u201cEgypt […]<\/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-647189","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"06a8d9a9-5106-4325-9d7e-fa54d6874ff6","order":"0","is_powered_by":true,"section_story_id":"b6c89d04-f25b-43ad-941e-e2d610251c7c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[647178],"teaser":"","voice_url":""},"yoast_head":"\nFuel subsidies up 90.2% in the first nine months of FY2016-17 - 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\/2017\/05\/04\/fuel-subsidies-up-90-2-in-the-first-nine-months-of-fy2016-17\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fuel subsidies up 90.2% in the first nine months of FY2016-17\" \/>\n<meta property=\"og:description\" content=\"Spending on fuel subsidies increased more than 90% to EGP 78 bn in the first nine months of FY2016-17, compared to EGP 41 bn in the same period in FY2015-16, Oil Minister Tarek El Molla told Reuters. The cost of fuel imports increased significantly since the EGP was floated in November. 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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":591526,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/egypts-fuel-subsidy-spending-falls-69-y-o-y-in-1q2019-2020\/","url_meta":{"origin":647189,"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 "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":627293,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/29\/finmin-announces-fy2017-18-budget-results\/","url_meta":{"origin":647189,"position":3},"title":"FinMin announces FY2017-18 budget results","author":"enterpriseam admin","date":"29 July 2018","format":false,"excerpt":"FY2017-18 budget deficit narrows to lowest point in six years: Egypt\u2019s budget deficit for FY2017-18 narrowed to EGP 433.9 bn, or 9.8% of total GDP, dropping below the 10% marker for the first time in six years, Finance Minister Mohamed Maait announced at a press conference on Thursday on the\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":596721,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/government-raises-fuel-prices-phasing-out-remaining-fuel-subsidies\/","url_meta":{"origin":647189,"position":4},"title":"Government raises fuel prices, phasing out remaining fuel subsidies","author":"enterpriseam admin","date":"7 July 2019","format":false,"excerpt":"Government raises fuel prices, phasing out remaining fuel subsidies: The government raised fuel prices by between 16% and 30% over the weekend as it introduced the latest round of fuel subsidy cuts, the Oil Ministry announced in a statement. The price of 95 and 92-octane rose by 16% and 18.5%,\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\/2019\/5\/757.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":648403,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/03\/finance-ministry-collects-egp-238-bn-in-taxes-during-first-nine-months-of-fy2016-17-el-monayer\/","url_meta":{"origin":647189,"position":5},"title":"Finance Ministry collects EGP 238 bn in taxes during first nine months of FY2016-17 -El Monayer","author":"enterpriseam admin","date":"3 April 2017","format":false,"excerpt":"The Egyptian treasury\u2019s tax haul rose 27% in 9M2016-17, with total receipts ringing in at EGP 238 bn,Deputy Finance Minister Amr El Monayer said, Al Borsa reports. The Finance Ministry is currently working to amend regulations and procedures for late tax payments, according to El Monayer. 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