Arab Today, arab today sisi egypt subsidies cut muchneeded bitter medicine
Last Updated : GMT 03:52:17
Arab Today, arab today
Arab Today, arab today

Sisi: Egypt subsidies cut much-needed bitter medicine

Arab Today, arab today

Arab Today, arab today Sisi: Egypt subsidies cut much-needed bitter medicine

Egypt's President Abdel Fattah al-Sisi
Cairo - AFP

Egypt's President Abdel Fattah al-Sisi said Monday a decision to raise fuel prices was "bitter medicine" that should have been taken before, but was not as governments feared a backlash.
The authorities on Friday slashed state subsidies on petrol and diesel, sparking anger among taxi drivers and others affected.
"We have to take this bitter medicine," Sisi said in a televised national address commemorating Egypt's military crossing of the Suez Canal during the 1973 war against Israel, which took place on the 10th day of the Muslim holy month of Ramadan.
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.
The decision to cut fuel subsidies "has been delayed, it has been delayed for years", Sisi said, adding that "all (previous) governments were worried to take it".
The political turmoil unleashed by the ouster of strongman Hosni Mubarak in 2011 has devastated Egypt's economy, badly hitting key tourist revenues and investment.
Since then, successive governments have said subsidies -- which made petrol in Egypt among the world's cheapest -- must be lifted, but never took action, fearing a popular backlash.
"When you asked me to run for presidency, the agreement between me and you was that you bear with me," Sisi said, drawing a parallel with sacrifices endured by Egyptians during the 1973 war "to retrieve (their) dignity".
Authorities on Sunday also unveiled higher taxes on cigarettes and alcohol, and the government had previously warned that heavily subsidised electricity prices would be gradually raised over the next five years.
The state spends almost 30 percent of its budget on fuel and food subsidies, in a country where nearly 40 percent of the population of 86 million hovers around the poverty line.
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 Egyptian authorities.

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 sisi egypt subsidies cut muchneeded bitter medicine Arab Today, arab today sisi egypt subsidies cut muchneeded bitter medicine

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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