Prime Minister Mostafa Madbouli chaired today’s government meeting at the New Administrative Capital, opening with congratulations to President Abdel Fattah El-Sisi and the Egyptian people on the upcoming Hijri New Year.
The meeting reviewed regional developments and Egypt’s diplomatic efforts to ease tensions, while reaffirming solidarity with Arab states against repeated Iranian attacks.
Madbouli noted President El-Sisi’s recent talks with Eritrean President Isaias Afwerki, which focused on Red Sea security and cooperation in the Horn of Africa.
On the economic front, the Prime Minister announced that Egypt has fully settled all dues to foreign partners in the oil and gas sector, reaching zero outstanding payments for the first time in years. This achievement, he said, strengthens investor confidence and opens the door for new exploration and development projects.
He also highlighted the signing of agreements for the Jebel El-Zeit wind power station, with proceeds of $420 million directed to the Ministry of Finance to help reduce debt.
Madbouli praised growing interest among factories in installing solar panels, noting that this shift will save resources and support Egypt’s renewable energy goals.
Tourism revenues rose to $14.4 billion, remittances surged to $34.9 billion, and inflation eased to 13% in May 2026. The Prime Minister further announced a record 4.6 million tons of wheat supplied by farmers this season, surpassing last year’s figures.
The meeting also reviewed progress on the “Decent Life” initiative to upgrade rural villages, with directives to accelerate completion and delivery of remaining projects.
