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السويس بلدي
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Prime Minister Highlights at Egypt 2026 Forum
During his speech at the Egypt 2026 Forum, Prime Minister Mostafa Madbouly addressed the global oil price surge and its impact on Egypt's economy. He explained that the price per barrel has exceeded $110, compared to the $75 initially budgeted, imposing an additional financial burden on the country. He reviewed three options to address the crisis: sharing part of the increase with citizens, having the government cover the entire cost through borrowing, or maintaining existing allocations while reducing supplies, which could lead to fuel shortages and a reduction in electricity loads. He emphasized that mobilizing energy resources requires massive investments, with a plan to increase renewable energy's share to 50% by 2030, at an estimated cost of 200 billion Egyptian pounds for grid infrastructure, aiming to stabilize the energy system and meet citizens' needs.
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