Prime Minister Moustafa Madbouli chaired a meeting of the Central Crisis Committee on Wednesday evening to assess the impact of escalating military tensions in the region.
The meeting was attended by Minister of Finance Ahmed Kouchouk, Minister of Tourism Sherif Fathy, Minister of Supply Sherif Farouk, Minister of Foreign Affairs Badr Abdel-Aati, Minister of Petroleum and Mineral Resources Karim Badawi, Minister of Investment and Foreign Trade Mohamed Farid, Minister of State for Information Diaa Rashwan, Minister of Planning and Economic Development Ahmed Rostom, and Central Bank of Egypt (CBE) Governor Hassan Abdallah.
During the meeting, the prime minister reviewed measures already taken to rationalise government spending across agencies and institutions.
The move is part of the government’s strategy to mitigate the effects of recent regional military escalations, following US and Israeli operations against Iran and subsequent developments impacting supply chains, according to Cabinet Spokesman Mohamed el-Homsany.
The measures include reducing electricity consumption in all government buildings and facilities during working hours, ensuring that interior and exterior lighting is turned off after office hours, as well as cutting public street lighting by at least 50 per cent at night in districts, cities, neighbourhoods, and villages.
CBE Governor Hassan Abdallah confirmed that the country has sufficient financial resources to secure essential commodities and provide production inputs for all economic sectors, ensuring continuity of production. He also reassured that foreign currency reserves remain at safe and stable levels.
The prime minister also reviewed the availability of essential goods, instructing authorities to increase and maintain stocks of key commodities at adequate levels and reasonable prices. He emphasised the importance of continuous market monitoring to detect and immediately address any unjustified price increases, el-Homsany added.
