Egypt: Subsidies coming to an end

Egypt: Subsidies coming to an end

According to The Daily News Egypt (07/02/10), Egypt's gradual phasing out of energy subsidies will likely be put on timeout due to the continuing repercussions of the financial crisis. Industry will benefit, but an extended grace period could increase the national deficit and derail plans for restructuring the country's energy model. Most likely, Egypt's fiscal reforms will be pushed back two years.
On Jan. 13, the Energy Pricing Committee recommended that current prices in non-energy intensive industries be maintained for the next six months in order to protect the economy, although a final decision has yet to be taken by Prime Minister Ahmed Nazif. "

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http://www.thedailynewsegypt.com/article.aspx?ArticleID=27621