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Egypt Allocates $100 Million in New Funds for Fuel Purchases

Egypt’s finance minister said today his ministry had allocated an additional $100 million for fuel purchases in a bid to ease ongoing shortages in the market.

Momtaz el-Saieed said in a statement that the ministry had also taken “urgent measures” to ensure that other commodities were available in the market.

The additional funds raised to $4.3 billion dollars the amount given to the Egyptian General Petroleum Corp. until now, the minister said, without saying over what period the funding had been provided.

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