Egypt Spends 30 Pct Less on Fuel Subsidies in Fiscal H1

Egypt's fuel subsidy bill for the first half of the current fiscal year fell to 44.8 billion Egyptian pounds ($5.9 billion) from 64.5 billion a year earlier, the finance ministry said.

The figures are for the six months to December 31, 2014, as Egypt's fiscal year runs from July 1 to June 30.

Egypt cut fuel subsidies last summer, raising prices of gasoline, diesel and natural gas by as much as 78 percent.

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