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Vol 55 No 14

Published 11th July 2014


Egypt

More Gulf cash needed

The subsidy cuts have much to do with keeping the El Sisi regime’s benefactors on-side but Egypt's energy prices are still among the lowest in the world

As the Egyptian public digested the news on 5 July that the prices of petrol, diesel and electricity had all been sharply increased, three senior economic ministers flew to the Gulf. Their destination was Abu Dhabi for three days of talks with United Arab Emirates' officials about prospects for more aid. Among Gulf donors, whose funds have kept Egypt afloat since the army removed President Mohamed Mursi one year ago, the UAE has taken a particularly close interest in how its money is spent.

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