Energy subsidy cuts save Egypt 40 bln pounds in new budget - minister
CAIRO, June 30
CAIRO, June 30 (Reuters) - Energy subsidy cuts will save Egypt around 40 billion Egyptian pounds ($5.59 billion) in the 2014/15 budget that comes into effect on Tuesday, Finance Minister Hany Kadry Dimian said.
Egypt's president approved a tightened budget for the next fiscal year on Sunday, as the first step towards a period of painful economic austerity that is expected to include reforms of the country's costly subsidies system.
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