Arab Today, arab today egypts sisi defends fuel subsidies cut adds taxes
Last Updated : GMT 05:38:17
Arab Today, arab today
Arab Today, arab today

Egypt's Sisi defends fuel subsidies cut, adds taxes

Arab Today, arab today

Arab Today, arab today Egypt's Sisi defends fuel subsidies cut, adds taxes

petrol station in Cairo
Cairo - AFP

Egypt's President Abdel Fattah al-Sisi on Sunday defended a government decision to raise fuel prices as the authorities also slapped higher taxes on cigarettes and alcohol, state media reported.
The authorities late Friday decided to slash state subsidies on petrol and diesel, sparking anger among taxi drivers and others affected by the rising costs.
Police arrested two people on Sunday after dispersing a protest by fishermen angered by the fuel price hike in the coastal city of Rosetta, state media reported.
In a meeting with newspaper editors and television channel representatives, Sisi argued that the decision had to be taken because of Egypt's debts, state-run Al-Ahram newspaper reported on its website.
With the economy battered by three years of unrest, successive governments have said subsidies -- which made petrol in Egypt among the world's cheapest -- must be lifted.
The ex-army chief, who toppled Islamist president Mohamed Morsi in July 2013 before himself being elected president by a landslide in May, has repeatedly advocated austerity to narrow the budget deficit.
"Whether we wanted to or not, these decisions had to be taken, now or later," Al-Ahram quoted Sisi as saying.
"It's better to face (the situation) instead of letting the country drown," he said, citing increasing government debt.
The state spends almost 30 percent of its budget on fuel and food subsidies, in a country were nearly 40 percent of the population of 86 million hover around the poverty line.
On Sunday, the authorities also announced a new tax of 50 percent of the retail price of imported cigarettes, while local cigarettes will be subject to a few extra pounds' in tax, the state news agency MENA reported.
Local and imported beers were slapped with a 200 percent tax increase, while local and imported wines become subject to a 150 percent increase, it said.
With many fearing that the fuel price rises will impact other prices, Sisi acknowledged that Egypt currently lacked any market controls, but said such mechanisms should be fully operational within six months, MENA said.
The political turmoil unleashed by the ouster of strongman Hosni Mubarak in 2011 has devastated the economy, badly hitting key tourist revenues and investments.
Since the overthrow of Morsi, who was viewed with suspicion by regional powerhouses such as Saudi Arabia and the United Arab Emirates, Arab states in the oil-rich Gulf have pledged billions of dollars in aid to Egypt's military-installed authorities.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypts sisi defends fuel subsidies cut adds taxes Arab Today, arab today egypts sisi defends fuel subsidies cut adds taxes

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypts sisi defends fuel subsidies cut adds taxes Arab Today, arab today egypts sisi defends fuel subsidies cut adds taxes

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday