Out of bounds
Sisi measures to support low - income owners
sought Egyptian President Abdel Fattah al- Sisi, to absorb the anger of citizens from the fierce wave of price rises which they suffer , vowing to protect the proceedings "within weeks" include raising the limit of tax exemption and increase food supplies subsidized to ease the suffering of the middle and low income earners.
In an interview with the editors of government newspapers published on Wednesday, Sisi him with feelings of resentment among Egyptians because of the high prices that intensified following the liberation of the pound exchange rate last November and jumped with inflation to its highest level in three decades.
He said Sisi "people understand and feel. Possible that the citizen is distressed by rising prices and poor services, but he knows that the heavy and difficult legacy and it requires time and effort and sacrifice."
"During the coming weeks , we will announce new protection measures direct and substantial cash and in- kind benefit and middle - income class with limited."
The president did not elaborate on the details of those actions, but said it, aimed at mitigating the effects of economic reform include increasing the extent of tax exemption and doubling the size of the quantities of subsidized food items provided by the state prices , which are supported on Altamoan.oukal Mohamed Abu Basha , an analyst of the Egyptian economy cards, the procedures indicated it Sisi "will target the reduction of the effects of inflation on the middle and low - income people and help them to increase monthly incomes" .otovar food prices affordable for citizens, a sensitive issue in Egypt , where millions of people live below the poverty line and saw the overthrow of two presidents in a few years, partly because of discontent over the Economic conditions.
The wave began a sharp rise in the prices of basic and non - basic commodities since float the pound in November 2016 and raise the prices of petroleum products.
Energy Minister meets with his Russian counterpart to discuss a production cut agreement
and the Algerian Ministry of Energy said in a statement, Energy Minister Noureddine Bouterfa, will meet with his Russian counterpart Alexander Novak in Moscow on Thursday.
Russia and Saudi Arabia had agreed earlier this week, the need to extend a cut in oil production for another nine months agreement until March 2018.ovi last year reached the Organization of the Petroleum Exporting Countries (OPEC) and some producers outside the agreement to cut oil production total about 1.8 million barrels per day during the first six months of the year Alhala.omn scheduled to meet members of the organization in Vienna on May 25.
Rosneft , Russia is considering with the Italian ENI supplied Egypt with products of oil
Rosneft, the largest oil producer in Russia said on Wednesday it has signed an agreement with the Italian energy company ENI, to expand cooperation between them , including may include cooperation in providing Egypt with supplies of oil products in common.
Agreement was signed in the framework of a visit of Italian Prime Minister Paulo Jntelaun Russia during which Russian President Vladimir Boaten.oukalt Rosneft that met, the agreement provides for the expansion of cooperation in the production, refining, marketing and trading of oil and gas, including the Egyptian sea back field , which controls Eni 50 percent of it, while the share of Rosneft , up to 35 percent and BP to 15 percent.
Russian company said it also agreed with Eni SpA to discuss cooperation in oil refining in Germany.