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 bud
Egypt's Finance Minister said on Sunday spending on energy subsidies next year will be 10-12 per cent above the 130 billion Egyptian pounds ($18.66 billion) budgeted for the current fiscal year, unless immediate reforms are made.
Iran's parliament has passed a bill that would cut energy subsidies to make the country less vulnerable to international sanctions over its disputed nuclear programme, the official IRNA news agency reported.
The bill needs to be approved b