BREAKING NEWS

Egypt 'can no longer afford stop-gap economic measures'

By REUTERS

NOVEMBER 4, 2016 14:04

Prime Minister Sherif Ismail said on Friday Egypt "no longer has the luxury" of being able to postpone difficult economic decisions such as its plan to phase out subsidies over five years.

A day after the central bank floated the Egyptian pound and the government raised fuel prices, Ismail said he aimed to cut a subsidy bill that currently totals 201 billion Egyptian pounds ($12.97 billion) a year, to free up cash for other spending.

He and other ministers also announced changes to some tariffs and subsidies at a news conference in Cairo.

Islamic State claims responsibility for attack on mosque in Afghanistan

By REUTERS

04/30/2024 10:24 PM

Hamas delegation discusses Gaza with China's deputy foreign minister

By JERUSALEM POST STAFF

04/30/2024 09:25 PM

State Dept: US has not seen credible Israeli plan for Rafah operation

By REUTERS

04/30/2024 08:34 PM

Police say large Lag Ba'omer event at Meron may be cancelled

By JERUSALEM POST STAFF