Falling oil prices would help Egypt significantly cut its energy subsidy bill for the current fiscal year and reduce payments it will make to international companies operating in the country, Egypt’s Oil Minister Sherif Ismail said on Saturday. “The fall in oil prices will decrease our energy subsidies and the current bills we receive from foreign partners working in the country,” Mr. Ismail said on the sidelines of an economic conference in the Egyptian resort town of Sharm el-Sheikh.

Source: MarketWatch, 14/03/2015


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