Egypt's Petroleum Minister Tarek El Molla expected that his country's gas revenues this year would reach $12 billion, and about $7 billion from oil derivatives and petrochemicals.
In statements to "Sky News Arabia" television, yesterday, Monday, on the sidelines of his participation in the ADIPEC Energy Conference in Abu Dhabi, Al Molla added that his country aims to raise its exports of liquefied natural gas this year to eight million tons and that it is able to export up to 12 million tons annually.
On the other hand, an International Monetary Fund (IMF) official said yesterday that Egypt's move to raise interest rates is a step in the right direction and that the application of a flexible exchange rate would help protect its economy from shocks at a time when global financial conditions are becoming increasingly difficult.
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