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EGYPT-SUBSIDIES/
RTR2YZ7X
March 07, 2012
An employee of a petrol station fills a car tank in Cairo March 7, 2012. Egypt is pinning its hopes on...
Cairo, Egypt
To match Analysis EGYPT-SUBSIDIES/
An employee of a petrol station fills a car tank in Cairo March 7, 2012. Egypt is pinning its hopes on natural gas to help it reduce energy subsidies that are eating up 20 percent of its state budget and are likely to continue growing if measures aren't taken soon. For years, the government has resisted cutting subsidies for fear of igniting inflation and the wrath of its citizens. It is now under renewed pressure to tackle the issue as it negotiates a $3.2 billion emergency loan from the International Monetary Fund to avert a balance of payments crisis; the IMF is expected to require a commitment from Cairo to reform its finances. To match Analysis EGYPT-SUBSIDIES/ REUTERS/Mohamed Abd El Ghany (EGYPT - Tags: POLITICS BUSINESS)
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