{"id":650306,"date":"2017-03-21T03:59:30","date_gmt":"2017-03-21T03:59:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/21\/govt-timeline-to-cut-down-on-subsidies-ends-in-2019\/"},"modified":"2017-03-21T03:59:30","modified_gmt":"2017-03-21T03:59:30","slug":"govt-timeline-to-cut-down-on-subsidies-ends-in-2019","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/21\/govt-timeline-to-cut-down-on-subsidies-ends-in-2019\/","title":{"rendered":"Gov\u2019t timeline to cut down on subsidies ends in 2019"},"content":{"rendered":"<p><strong>Gov\u2019t timeline to cut down on subsidies ends in 2019:<\/strong> The government does not plan to fully eliminate fuel subsidies, said Oil Minister Tarek El Molla in an extensive interview with <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=20032017&id=eb39f29c-b177-4767-964b-692871ea062c\">Al Shorouk<\/a>. The timeline to reduce spending on fuel subsidies will end in 2019, but the government will keep paying for fuel subsidies after that, he added. It is worth noting that Egypt had only <a href=\"https:\/\/enterprise.press\/stories\/2017\/01\/19\/imf-finance-reveal-terms-of-the-usd-12-bn-imf-agreement\/\">committed<\/a> to \u201creducing fuel subsidies\u201d in its agreement with the IMF for the USD 12 bn loan, but had agreed to a complete phase-out of subsidies for electricity in the coming five years. Other takeaways from the interview:<\/p>\n<ul type=\"disc\">\n<li><strong>International oil companies have committed to reinvesting<\/strong> the arrears Egypt pays them, pledging USD 10 bn in new investments this year alone. <\/li>\n<li><strong>The private sector will not begin importing natural gas to Egypt until 2018<\/strong>, said El Molla on the deregulation of the gas market. <\/li>\n<li><strong>An agreement to process and export gas from Cyprus<\/strong> won\u2019t come into effect for another two years.<\/li>\n<li>Aramco halted fuel shipments to Egypt last fall because of <strong>internal business considerations related to oil prices.<\/strong><\/li>\n<li><strong>Egypt will retain at least one FSRU<\/strong> even after it stops importing LNG. <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Gov\u2019t timeline to cut down on subsidies ends in 2019: The government does not plan to fully eliminate fuel subsidies, said Oil Minister Tarek El Molla in an extensive interview with Al Shorouk. The timeline to reduce spending on fuel subsidies will end in 2019, but the government will keep paying for fuel subsidies after [&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-650306","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"14c273df-46af-4899-af2c-567b959e923f","order":"0","is_powered_by":true,"section_story_id":"322ffdbd-3304-4a7b-aa43-bbc95691871c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[650296],"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 timeline to cut down on subsidies ends in 2019 - 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\/03\/21\/govt-timeline-to-cut-down-on-subsidies-ends-in-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t timeline to cut down on subsidies ends in 2019\" \/>\n<meta property=\"og:description\" content=\"Gov\u2019t timeline to cut down on subsidies ends in 2019: The government does not plan to fully eliminate fuel subsidies, said Oil Minister Tarek El Molla in an extensive interview with Al Shorouk. The timeline to reduce spending on fuel subsidies will end in 2019, but the government will keep paying for fuel subsidies after [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/21\/govt-timeline-to-cut-down-on-subsidies-ends-in-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-21T03:59:30+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\/2017\/03\/21\/govt-timeline-to-cut-down-on-subsidies-ends-in-2019\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/21\/govt-timeline-to-cut-down-on-subsidies-ends-in-2019\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t timeline to cut down on subsidies ends in 2019\",\"datePublished\":\"2017-03-21T03:59:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/21\/govt-timeline-to-cut-down-on-subsidies-ends-in-2019\/\"},\"wordCount\":203,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/21\/govt-timeline-to-cut-down-on-subsidies-ends-in-2019\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/21\/govt-timeline-to-cut-down-on-subsidies-ends-in-2019\/\",\"name\":\"Gov\u2019t timeline to cut down on subsidies ends in 2019 - 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Fuel subsidies spending\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":630075,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/","url_meta":{"origin":650306,"position":1},"title":"Gov\u2019t to cut fuel subsidies, increase food subsidies in FY2018-19","author":"enterpriseam admin","date":"11 April 2018","format":false,"excerpt":"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\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":600308,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/egypts-fuel-subsidy-bill-falls-15-in-1h2018-19\/","url_meta":{"origin":650306,"position":2},"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 &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":648456,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/04\/govt-to-make-using-fuel-smartcards-mandatory-next-fiscal-year\/","url_meta":{"origin":650306,"position":3},"title":"Gov\u2019t to make using fuel smartcards mandatory next fiscal year","author":"enterpriseam admin","date":"4 April 2017","format":false,"excerpt":"Mandatory smart cards, fuel prices hikes expected next fiscal year: The government is planning to raise fuel prices next fiscal year in effort to keep subsidies spending on budget, unnamed government sources tells Al Shorouk. Separately, the government is also planning to make using fuel smartcards mandatory next fiscal year\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":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":650306,"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 &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":646263,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/11\/govt-mulls-maintaining-electricity-subsidies-for-an-extra-three-years\/","url_meta":{"origin":650306,"position":5},"title":"Gov\u2019t mulls maintaining electricity subsidies for an extra three years","author":"enterpriseam admin","date":"11 June 2017","format":false,"excerpt":"Electricity subsidies might still be with us beyond 2019: The government is considering extending its timeline for the phase-out of electricity subsidies by another two or three years instead of having them removed entirely by 2019, Electricity Minister Mohamed Shaker said, according to Reuters. The delay would be to reduce\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\/650306","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=650306"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650306\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/650296"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=650306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=650306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=650306"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=650306"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=650306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}