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The Egyptian government has set the price of the dollar at 17.46 pounds in the draft budget for the next fiscal year 2019-2020, which will start operating in July.
The government has cut petroleum subsidies by 40% from the previous year to 52.8 billion pounds instead of 89 billion pounds, which will affect fuel prices and commodities in the coming period.
Reuters quoted a government source as saying that the finance ministry had set the price of the dollar at 18 pounds in the next draft budget, but the government denied the information and removed the dollar adjustment of the half-yearly report released in February. last on the Ministry of Finance website.
The government has set the price of a barrel of oil in the draft budget for the next fiscal year 2019-2020 at 68 dollars.
The price of a barrel of oil in the current fiscal year budget was $ 67, before the government brought it to $ 74 in the semi-annual report released in February on the Ministry of Finance's website, according to the report. # 39; agency.
The Egyptian government approved on Wednesday the draft budget year 2019-2020, which aims to reduce the public debt to 89% of GDP, to generate an initial surplus of around 2% of GDP and to reduce the total deficit to around 7%. , 2%.
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