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President Sisi questions Petroleum Minister about debt
President Abdel Fattah El-Sisi welcomed the "Egypt Forum 2026" initiative, which aims to clarify the country's economic challenges and financial situation to citizens directly and in simple terms, away from complex technical jargon. He explained that one of the forum's goals is to highlight the magnitude of the debt and financial entanglements between the energy and electricity sectors. The Minister of Petroleum revealed that the debt reached 1.6 trillion Egyptian pounds by the end of June 2026, and that a financial gap makes it necessary to continue reform efforts and to make the situation clear to citizens. Sisi emphasized that the government faces significant challenges despite the efforts made, and that transparency and financial awareness among citizens are essential to address economic pressures and achieve sustainability.
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