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June 28, 2017

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Egypt president defends recent price hikes of fuel

CAIRO--Egypt's President Abdel-Fattah el-Sissi defended Monday his recent decisions to partially lift subsidies on fuel that caused a public outcry, calling them a necessary "bitter pill" to revive his nation's ailing economy.

In a nationally televised speech, Sissi went through figures for budget deficits and government debt to explain to the public last weekend's steep fuel price hikes, a long-awaited move to curb the country's massive subsidies program that eats nearly a quarter of the state budget.

 

 

 

 

 

 

 

 

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