Posted on 07/05/2014 11:00:50 AM PDT by Olog-hai
Egypt’s prime minister on Saturday defended his government’s decision to introduce a steep rise in fuel prices, saying energy subsidies have over the past decade cost the treasury a staggering E£687 billion (nearly $100 billion) that could have been used to bolster essential services.
The fuel price hikes of up to 80 percent came into force early on Saturday and follow promises to cut subsidies that eat up nearly a quarter of the state budget. They also come after an increase in electricity prices that were put in effect at the start of July.
Prime Minister Ibrahim Mahlab, addressing a televised news conference, said it would have been a “crime” if his government did not move to start lifting subsidies. He argued that 26.3 percent of Egypt’s estimated 86 million people live in poverty and that overall unemployment stands at 13.6 percent, reaching above 50 percent for Egyptians aged between 20 and 30. …
(Excerpt) Read more at hosted.ap.org ...
>>>Egypt’s estimated 86 million people live in poverty and that overall unemployment stands at 13.6 percent, reaching above 50 percent for Egyptians aged between 20 and 30. …
The USA following this democratic path
Already sounds like the USA.... Our Government numbers you can pretty much double for what is reality.
Already sounds like the USA.... Our Government numbers you can pretty much double for what is reality.
They’re getting exactly what Hussein promised and gave US!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.