A Co-Op Petroleum Company petrol station in downtown Cairo. Fuel subsidy spending soared in the year to June. Amr Abdallah Dalsh / Reuters
A Co-Op Petroleum Company petrol station in downtown Cairo. Fuel subsidy spending soared in the year to June. Amr Abdallah Dalsh / Reuters

Energy

Egypt's fuel subsidy spending more than doubles

But June hikes by up to 50 per cent should reduce bill this year

Reuters

August 08, 2017

Egypt's fuel subsidy spending more than doubled during the 2016-17 financial year that ended in June, hitting 120 billion Egyptian pounds (DH24.83bn) from about 51bn pounds a year earlier, the minister of petroleum Tarek El Molla said on Tuesday.

In June, Egypt hiked fuel prices by up to 50 per cent as part of subsidy cuts in line with a $12bn three-year IMF loan programme it agreed last November.

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Read more:

Egypt's efforts to cut back on subsidies could help the economy soar as well as its poor

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Those cuts are expected to bring this year's fuel subsidy bill down to about 110bn pounds as the government looks to tighten its finances and narrow its budget deficit to about 9.1 per cent of GDP from about 10.5 per cent last year.

Government officials say spending cuts will help revive an economy where subsidies have accounted for about a quarter of state expenditures.

But the austerity measures and the country's pound flotation last November, which about halved the currency's value, have pushed inflation to above 30 percent and eaten into consumers' ability to spend.

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Killing of Qassem Suleimani
Killing of Qassem Suleimani
'Shakuntala Devi'

Starring: Vidya Balan, Sanya Malhotra

Director: Anu Menon

Rating: Three out of five stars

Specs

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Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

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On Women's Day
On Women's Day
What you as a drone operator need to know

A permit and licence is required to fly a drone legally in Dubai.

Sanad Academy is the United Arab Emirate’s first RPA (Remotely Piloted Aircraft) training and certification specialists endorsed by the Dubai Civil Aviation authority.

It is responsible to train, test and certify drone operators and drones in UAE with DCAA Endorsement.

“We are teaching people how to fly in accordance with the laws of the UAE,” said Ahmad Al Hamadi, a trainer at Sanad.

“We can show how the aircraft work and how they are operated. They are relatively easy to use, but they need responsible pilots.

“Pilots have to be mature. They are given a map of where they can and can’t fly in the UAE and we make these points clear in the lectures we give.

“You cannot fly a drone without registration under any circumstances.”

Larger drones are harder to fly, and have a different response to location control. There are no brakes in the air, so the larger drones have more power.

The Sanad Academy has a designated area to fly off the Al Ain Road near Skydive Dubai to show pilots how to fly responsibly.

“As UAS technology becomes mainstream, it is important to build wider awareness on how to integrate it into commerce and our personal lives,” said Major General Abdulla Khalifa Al Marri, Commander-in-Chief, Dubai Police.

“Operators must undergo proper training and certification to ensure safety and compliance.

“Dubai’s airspace will undoubtedly experience increased traffic as UAS innovations become commonplace, the Forum allows commercial users to learn of best practice applications to implement UAS safely and legally, while benefitting a whole range of industries.”

In numbers

1,000 tonnes of waste collected daily:

  • 800 tonnes converted into alternative fuel
  • 150 tonnes to landfill
  • 50 tonnes sold as scrap metal

800 tonnes of RDF replaces 500 tonnes of coal

Two conveyor lines treat more than 350,000 tonnes of waste per year

25 staff on site

 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills