Written by: Islam El-Saqqa
Dr. Mostafa Madbouly, Prime Minister, warned of the repercussions of continuing global economic challenges and rising energy prices, confirming that the lack of sufficient financial resources to purchase petroleum products may push the government toward taking more difficult measures.
During the Egypt 2026 Forum in a session discussing the path of energy and future prospects, the Prime Minister explained that among these potential measures is resorting to increasing electricity load shedding hours to range between six and eight hours daily, in the event the state is unable to secure the necessary funding for imports.
Challenges of financing energy shipments
Madbouly pointed to the significant financial pressures facing the state due to the successive rises in the prices of globally imported petroleum shipments. He stressed that the current import cost has doubled compared to the period preceding the past two years, despite continuous efforts to rationalize consumption and enhance reliance on new and renewable energy sources.
In this context, the economic group, in coordination with the Governor of the Central Bank, is intensifying its weekly meetings, which may extend for several days, to provide the necessary liquidity in both local and foreign currencies, with the aim of securing energy supplies and ensuring the continued meeting of local needs despite mounting financial burdens.
Balancing support and stability
The Prime Minister emphasized that the government is adopting an approach based on a precise balance between protecting citizens from global price shocks and maintaining the stability of the national economy. He confirmed that the state bears the largest share of the actual bill for providing energy to consumers, in an effort to alleviate the severity of living burdens in light of the exceptional circumstances the international markets are experiencing.
