Egypt aims to cut energy subsidies, raise food subsidies in 2018/19

CAIRO - 10 April 2018: Egypt aims to cut subsidies on fuel by about 26 percent to LE 89.075 billion ($5.05 billion) in the 2018/19 fiscal year that begins in July, according to a government document.

It also aims to cut electricity subsidies by about LE 16 billion ($906 million) and raise food subsidies by about 5 percent to LE 86.175 billion ($4.88 billion) for the same fiscal year, according to the document.

($1 = LE 17.6400)