Egypt Allocates Additional $100 Million for Fuel Purchases

Egypt’s Finance Ministry said it allocated an additional $100 million for fuel purchases to ensure adequate supplies in the market and took “urgent measures” to ensure that other commodities are available.

The additional funds increased to $6.1 billion the amount given to the Egyptian General Petroleum Corp., Finance Minister Momtaz el-Saieed said in a statement today.

To contact the reporter on this story: Abdel Latif Wahba in Cairo at alatifwahba@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden in Dubai at barden@bloomberg.net

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