Egypt’s finance minister says petroleum subsidies to be slashed

09 April 2016, Cairo — Egypt will slash petroleum subsidies by nearly 43 percent in the 2016-2017 budget, Finance Minister Amr al-Garhy told a news conference on Saturday. The country will lower subsidies to 35 billion Egyptian pounds ($3.94 billion) from around 61 billion pounds in 2015/16, he said. Egypt’s President Abdel Fattah al-Sisi approved […] More »