Written by: Basant El-Farmawy
Dr. Moustafa Madbouly, Prime Minister, revealed the details of the statements attributed to him regarding power load shedding, during the conclusion of his intervention addressing the main features of the National Economic Transformation Program within the events of one of the sessions of the Egypt 2026 Forum. The Prime Minister emphasized that his previous remarks regarding energy challenges and the future were merely reviewing available scenarios without announcing a plan to implement this measure for periods ranging between 6 and 8 hours daily.
Clarifying Rumors and Enhancing Awareness
The Prime Minister pointed out that the forum represents an important opportunity to clarify information to citizens and enhance awareness in confronting rumors circulating on social media platforms, in implementation of President Abdel Fattah El-Sisi's directives on the necessity of discussing all issues with complete transparency. Madbouly explained that the global energy sector is facing widespread difficulties as a result of economic variables and current international challenges.
Oil Prices and General Budget Challenges
The Prime Minister noted that the general budget for the current fiscal year was formulated based on an estimated oil price of $75 per barrel, while current prices exceed the $110 barrier, which imposes additional challenges on the budget. During the session, he reviewed three potential scenarios to deal with this rise, the first of which involves fully raising prices for the citizen, while the second entails the state temporarily bearing the difference along with the accompanying possibility of increasing public debt.
Energy Scenarios and State Options
The Prime Minister added that the third scenario consists of committing to the financial allocations specified in the budget while reducing imported fuel quantities by a percentage ranging between 50% and 60% of the required total. He expressed his astonishment at the rumors regarding the announcement of electricity load shedding and fuel reduction, emphasizing that the state has chosen at the present time to bear the financial burdens resulting from high prices to avoid burdening citizens with additional loads.
