Planning Minister: Fuel prices to increase “very soon”
Minister of Planning Ashraf al-Araby stated on Thursday that fuel prices will go up in the near future, adding that the increase in prices will include fuel products such as gasoline, diesel, fuel oil and natural gas used in factories.
According to state-owned EgyNews, the minister explained that the increase will not be implemented gradually, but did not specify when the expected increase will be applied or what the actual increase in price will be. “The government expects that inflation rates will go up in the coming period,” Araby said.
Prime Minister Ibrahim Mehleb reiterated on Wednesday that fuel prices will increase soon, but also failed to mention when. The government spent LE144 billion, one quarter of its budget, on the subsidization of fuel in the 2013/2014 fiscal year.
In it is recently approved budget for 2014/2015, the government decreased spending on fuel subsidies by LE40 billion.
أخبار ذات صلة
Trade-off: Madbuly’s big debt target and even bigger debt problem
A grand debt-swap proposal is gaining government and media traction
Govt’s ‘national economic narrative’ lays bare constitutional breaches in spending, signals continued limits to survey data
The Planning Ministry released on Sunday the National Narrative for Economic Development, a document first announced last week as the government’s program…
New fiscal year, new slices of the pie
With the new fiscal year underway as of July 1, the government has begun implementing the fiscal year 2025/26 state budget, approved…
State budget passes even as MPs malign steep debt service bill
The House of Representatives gave final approval on Tuesday on the state budget and economic and social development plan for fiscal year…
Your support is the only way to ensure independent, progressive journalism survives.
You have a right to access accurate information, be stimulated by innovative and nuanced reporting, and be moved by compelling storytelling. Subscribe now to become part of the growing community of members who help us maintain our editorial independence.
Join us