Egypt to Receive $3 Billion Loan From World Bank: Finance Minister
Reuters
Wednesday 14 Oct 2015
Egypt will receive a $3 billion loan from the World Bank in instalments over the next three years to support the state's budget, the finance minister said on the sidelines of an economic conference on Wednesday.
"The government is aware of the economic conditions which we're passing through, and there is a deficit in the budget and we have to handle it gradually," the prime minister said in separate remarks at the same conference.
http://english.ahram.org.eg/News/155918.aspx
Energy crisis in Egypt's factories will end in November: Minister
Ahram Online
Wednesday 14 Oct 2015
In summer, to avoid fuelling discontent, the government allocated the greater proportion of national energy resources to homes over factories
Egyptian factories will no longer face an energy crisis starting November, allowing halted plants to resume operations, reported the state-owned MENA news agency Wednesday, quoting Minister of Investment Ashraf Salman.
Salman said that fuel shortages have negatively impacted gas intensive factories such as cement, steel and fertilizers.
Egypt has seen an energy crisis since 2008 on the back of growing fuel consumption and a gap between demand and supply. The crunch usually worsens every year during summer, as more domestic households use air conditioners, adding to cascading power grid pressures.
The minister's announcement comes as summer ends and Egypt prepares to receive 55 LNG (liquefied natural gas) cargoes.
This summer saw the allocation of most of Egypt's energy resources to homes at the expense of factories, to avoid fuelling unrest as seen under previous goverments, including that of ousted president Mohamed Morsi.
http://english.ahram.org.eg/News/155951.aspx
Wednesday 14 Oct 2015
Egypt will receive a $3 billion loan from the World Bank in instalments over the next three years to support the state's budget, the finance minister said on the sidelines of an economic conference on Wednesday.
"The government is aware of the economic conditions which we're passing through, and there is a deficit in the budget and we have to handle it gradually," the prime minister said in separate remarks at the same conference.
http://english.ahram.org.eg/News/155918.aspx
Energy crisis in Egypt's factories will end in November: Minister
Ahram Online
Wednesday 14 Oct 2015
In summer, to avoid fuelling discontent, the government allocated the greater proportion of national energy resources to homes over factories
Egyptian factories will no longer face an energy crisis starting November, allowing halted plants to resume operations, reported the state-owned MENA news agency Wednesday, quoting Minister of Investment Ashraf Salman.
Salman said that fuel shortages have negatively impacted gas intensive factories such as cement, steel and fertilizers.
Egypt has seen an energy crisis since 2008 on the back of growing fuel consumption and a gap between demand and supply. The crunch usually worsens every year during summer, as more domestic households use air conditioners, adding to cascading power grid pressures.
The minister's announcement comes as summer ends and Egypt prepares to receive 55 LNG (liquefied natural gas) cargoes.
This summer saw the allocation of most of Egypt's energy resources to homes at the expense of factories, to avoid fuelling unrest as seen under previous goverments, including that of ousted president Mohamed Morsi.
http://english.ahram.org.eg/News/155951.aspx
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