_1777352244987_250242181.png&w=64&q=75){kind=small}
Mubarak El-Daamoli on Oil Price Solutions
Prime Minister Mustafa Madbouly confirmed that the rise in oil prices to $110 per barrel presents the government with three options: either pass on the increase to citizens, or have the state bear the costs without sufficient resources, or borrow to cover import expenses. He explained that the budget for the fiscal year was based on a price of $75 per barrel, but geopolitical circumstances led to higher prices, which compels the government to act accordingly. He also pointed to the country's efforts in implementing a renewable energy strategy to reach 50% of the energy mix by 2030, aiming to reduce dependence on traditional fuels.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)