Written by: Islam El-Sakka
President Abdel Fattah El-Sisi emphasized that rapid geopolitical fluctuations and continuous increases in global petroleum prices pose additional challenges to the Egyptian state in its efforts to secure its energy needs. He explained that the difference between the general budget estimates and the actual fuel prices in international markets requires precise economic treatments to ensure the continuity of providing basic services without interruption.
Challenges of oil prices and public spending
During his participation in the session \"The Journey of Egyptian Energy.. National Achievements and Future Prospects\" as part of the Egypt 2026 Forum, the President pointed out that the state builds its budget on conservative estimates for oil prices, usually ranging between $70 and $75 per barrel. However, global markets witness fluctuations that may push the price to levels reaching $90 or $100, which imposes urgent questions on how to manage the huge cost differences to avoid financial deficit. He stressed that these uncalculated variables in the preparation of previous budgets call for a continuous search for additional funding sources to cover the increasing energy burdens.
Transparency in the energy file
The President stressed the importance of enhancing citizens' awareness of the reality of the cost of providing energy, affirming that public opinion's realization of the reasons for financial pressures represents an essential part of the success of the state's strategy in this file. He explained that the challenge is not limited to the costs of establishing power generation plants or modernizing infrastructure and networks, but extends to include the cost of fuel itself, and the direct impacts of geopolitical disturbances that disrupt global supply chains and lead to price instability.
Securing supplies and state needs
The Egyptian state operates according to a balanced equation aimed at meeting the needs of citizens, industrial and productive sectors, alongside managing limited resources and facing the financing gap resulting from the differences between purchase prices and the cost of providing the service to the consumer. The President affirmed that the goal of organizing the Egypt 2026 Forum is to present a clear vision of the developmental path, ensuring that society is informed of the scale of efforts exerted to ensure energy sustainability in light of the complex economic and political conditions currently witnessed by the world, and ensuring the provision of basic needs for all segments of society and vital economic activities.
