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Monday, 7 November 2016

Egypt should accelerate subsidy removal, build on devaluation

Robin Mills writes in The National, saying Egypt need to build on the devaluation and move to abolish subsidies while compensating low-income citizens. He says “the greater availability of foreign currency should allow the government to pay down debts to oil companies and stabilise production levels. Raising gas prices uniformly to a market ­level – the equivalent price for LNG imports – would encourage investment in offshore and tight gasfields.”

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