The tariffs are designed to shield Egypt’s domestic steel industry from what the government describes as “harmful international trade practices” and excessive global supply pressures.
The official confirmed that Egypt will permanently issue tenders to import gas until local production rises again.
Egypt raised its estimate of the price of a barrel of oil in the current fiscal year budget by about 6.25% to $85, according to the semi-annual report on economic performance.
El Quseir confirmed that this represented an increase of 400 thousand tons over last year.
