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Finance Minister: gradual oil price shifts preferred to 2013 crisis
The article focused on statements by the Egyptian Minister of Finance regarding movements in oil prices. He explained that the government adopted a hedging policy covering 50% of the needs for Brent crude oil at a fixed price last year, paying between $80 million and $90 million to benefit from the rise in global prices. He emphasized the importance of gradual adjustments to fuel prices rather than waiting for crises like the one that occurred in 2013. He clarified that the "automatic pricing mechanism" aims to maintain acceptable limits that citizens can manage, while also highlighting the importance of managing public finances in a way that balances desire and capacity to bear the costs.
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