Egypt expects to raise tax revenues, lower fuel subsidy bill

Egypt also plans to sell international treasuries worth some 66 billion pounds in the draft 2021/22 budget. (Shutterstock)

• The country also expects its fuel subsidy bill to drop 35 percent to 18.4 billion pounds

CAIRO: Egypt aims to increase tax revenues by 1.9 percent to 983 billion Egyptian pounds ($62.9 billion), according to a draft budget document.
The country also expects its fuel subsidy bill to drop 35 percent to 18.4 billion pounds, the document showed.
Egypt also plans to sell international treasuries worth some 66 billion pounds in the draft 2021/22 budget, compared to 72 billion pounds in the current financial year.