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Finance Minister: Savings of 7-8 billion pounds from 20% reduction in gas and fuel use
The Ministry of Finance reduced Egypt's external debt allocated for the budgetary devices by $6 billion over three years, as part of its efforts to decrease reliance on foreign financing and achieve fiscal sustainability. Additionally, the government achieved a financial surplus ranging between 7 and 8 billion Egyptian pounds during the past fiscal year by curbing gas and fuel consumption by 20%, aiming to address rising energy costs amid international crises. Meanwhile, the sector is focusing on enhancing renewable energy production, where each gigawatt of new energy contributes to saving between $200 million and $250 million annually by reducing natural gas imports.
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