Energy subsidies down, export subsidies up in new budget draft

Egypt's draft budget cuts petroleum subsidies while boosting export subsidies — a quiet reallocation from household fuel bills to trade-sector firms. Lead with who pays and who gets paid: the poor subsidize exporters. The reader should see the IMF fingerprint — Cairo is executing the textbook austerity pivot while the Gaza war and debt service squeeze the fiscal space further. Healthcare is the one line item going up, but the direction of travel is unmistakable.