Egypt plans smart card system for fuel from mid-June

Egypt will begin rolling out a smart card system for subsidised fuel from June 15, the head of the firm overseeing the project said, part of plans to reduce costly energy subsidies over time. Fuel subsidies have long weighed on Egypt's state budget and contributed to the economic stagnation that President Abdel Fattah al-Sisi promised to tackle when he took office last May. The government cut fuel subsidies last summer, raising prices by up to 78 percent, in a move lauded by economists but