Egypt to Get US$1.4bln Petroleum Aids from Gulf Countries

Egypt is schedule to obtain US$1.4 billion petroleum aids from the Gulf countries within the current month against US$7.7 billion during the same period of FY13/14.

Egyptian government is planning to compensate that through Rationalizing energy subsidies measures which schedule to attain surplus net relation between the treasury and Egyptian General Petroleum Corporation (EGPC).

Gulf aids for Egypt may be stopped by August but Finance Minister Hany Kadry asserted that sister countries would not halt their support for Egypt if needed, according to Ahram Gate.