Egypt’s Huge Fuel Subsidy Cuts Could Spark Protests

Egypt plans to slash fuel and electricity subsidies in its 2019/2020 financial year, the finance ministry’s draft budget shows, but raising fuel prices closer to international levels could turn out to be an even more severe burden on the population, potentially leading to protests that would add to the ones in other African oil producing nations like Sudan and Algeria.   Under the 2019/2020 budget bill—which needs parliament approval to become law—Egypt plans to further slash fuel and electricity subsidies, by 40.5 percent…