Egypt to remove diesel subsidies for tourism sector gradually

May 27, 2014 1:34 am

Egypt’s tourism minister, Hisham Zaazou has said the removing diesel subsidies for the country’s tourism sector will not happen all at once and will take place at the beginning of next November, Daily News Egypt has reported. The finance ministry had agreed to allocate EGP2bn of next year’s fiscal budget in order to remove diesel subsidies for the tourism sector. According to the Egyptian General Petroleum Corp, subsidies for the tourism sector are worth EGP12.5bn annually.