Egypt Daily News – Prime Minister Mostafa Madbouly stated that the government’s plan is not to return to reducing electricity loads next summer, despite the high cost to the state. Currently, the government has not considered the scenario of load reduction, and its focus is to protect the Egyptian citizen from the repercussions of global events. The government aims to stabilize the market and the country’s economic situation despite the negative impacts being felt.
Madbouly added during today’s press conference that the new sports law has not yet been issued by the Egyptian government. The law is not directed at any particular club, and the amendment’s goal is to serve the public interest. The law is currently being reviewed by legal experts.
He continued, stating that part of the scenarios for handling the global crisis includes securing the purchase of certain goods, starting with wheat. The local price of wheat was increased to ensure the highest possible supply. There is also a clear plan with the Italian company Eni to increase its natural gas exploration activities in Egypt in the coming period.
Prime Minister Mostafa Madbouly also emphasized that the aim of the agricultural commodity exchange is to ensure fair and proper trading of goods in the country without price manipulation, ensuring that goods reach the consumer fairly. The President of the Republic has directed the establishment of a mechanism to implement this exchange in practice. The exchange will serve as a platform for exporting certain products and reducing the import bill for some goods.
Madbouly mentioned that meetings will be held soon with representatives of the National Dialogue Trustees Council to discuss various political and service-related issues.
He also pointed out that contracts have been signed with consulting firms to list five companies owned by the Egyptian Armed Forces. By next June, the square of ministries in Downtown Cairo will be launched, maintaining the area’s urban character. The goal is to increase the number of hotel rooms in the area to accommodate incoming tourism.
Madbouly concluded by stating that what is happening is a global trade and economic war. The decisions of U.S. President Donald Trump have affected all countries around the world, and now there is a destruction of what was built in the past thirty years. It is highly likely that global inflation and recession will occur, as warned by economic experts and international institutions.
