2 Days
Source:
المصري اليوم
_1777352142843_145525226.png&w=64&q=75){kind=small}
Economist: Higher Oil Prices Increase Energy Subsidy Costs
The global increase in oil prices is leading to higher energy subsidy costs in Egypt, as the current rise amounts to about $30 per barrel above the amount estimated in the budget. This translates into an additional cost of approximately 25 billion Egyptian pounds per year. This escalation doubles the energy subsidy burden and threatens other aspects of the economy, especially since the increase is approaching double the budget allocation of 120 billion pounds, thereby amplifying the financial challenges faced by the government and impacting inflation as well as the prices of goods and services.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)