Egypt’s economy is in crisis and so is its energy sector - though largely self-inflicted. So far, upstream oil and gas investors have remained loyal but their enthusiasm has begun to dampen as the future of the industry looks increasingly uncertain. The government has some tough choices to make to restore the international community’s confidence in its economy.

<i>The Egyptian economy and its energy sector are in crisis. International financial assistance from the IMF will come with strict conditions. These are mainly related to the much-needed economic and social reforms in the country and particularly the gradual removal of energy subsidies. Without these reforms, Egypt’s ene...

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Dr. Carole Nakhle
Energy subsidies account for nearly 12% of GDP (the combined expenditure for education, health and defence), half of which go to the richest 20% of the population
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