Egypt's Cabinet decided to cut fuel subsidies to ease the budget deficit.
Tarek El Molla stated that there is no alternative to increasing fuel prices.
Petroleum Ministry's supports Egypt's vision to maximize the added value and support the national economy.
Egypt expects to raise up to $150m from IPO of Enppi as the government pushes ahead with a plan to sell stakes in state-controlled companies.
EU’s Head of the European Neighborhood Policy and Enlargement Negotiations, Johannes Hahn, will sign a $142.17m funding package to support social and economic reforms in Egypt.