Fuel subsidies in the FY2017-18 budget have not changed: The amounts earmarked for energy subsidies in the FY2017-18 budget have not changed since the original announcement last month, Vice Minister of Finance Mohamed Maait said on Wednesday, according to Al Mal. The budget allocates EGP 140 bn to energy subsidies, with EGP 110 bn of that figure earmarked for petroleum products and EGP 30 bn for electricity. Mait’s comments come in reference to a statement from Prime Minister Sherif Ismail earlier this week suggesting that the government’s energy bill could amount to EGP 225 bn with EGP 145 bn on fuel subsidies and EGP 80 bn on electricity.

The government could be spending up to EGP 225 bn if it postpones energy price hikes slated for July this year, a Finance Ministry official tells Al Shorouk. He explained that amendments to the budget are now under the sole jurisdiction of the House of Representatives, since the Ismail cabinet has already passed it over. The heads of the House’s economics and budgeting committees both confirmed, however, that the budget remains unchanged so far.