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Egypt sees average oil price of $67 for 2019-20 budget

Sunday 10/February/2019 - 08:35 PM
File Photo
File Photo
ٌReuters

Reuters) - Egypt expects an average crude oil price of $67 per barrel for its 2019-2020 financial year budget، according to a finance ministry report published on Sunday.

The country spent 30.169 billion Egyptian pounds ($1.7 billion) on fuel subsidies in July to December 2018، up from 26.651 billion EGP in the same period the previous year، the report said.

Egypt’s financial year runs from July to June. ($1 = 17.6050 Egyptian pounds).


Edited by: Mohamed Emad.

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