During the Egyptian family iftar ceremony held recently at the Air Forces House in Cairo on Saturday, March 14, President Abdel Fattah El-Sisi said: Directed The challenges facing Egypt in light of regional conflicts and their impact on the national economy.
he open The Suez Canal incurred losses amounting to $10 billion (522 billion pounds), attributing this decline to global supply chain disruptions.
Amid the war on Gaza and Iran’s war with Israel and the United States.
And in his speech, Sisi motive The government’s recent decision to raise local fuel prices, considering it an “inevitable” and necessary measure to protect the economy.
He acknowledged the negative feelings prevailing among citizens regarding these increases Confirm Such steps were taken out of necessity to prevent more serious repercussions in the future.
he He explained Egypt consumes approximately US$20 billion (1 trillion Egyptian pounds) of petroleum products annually, primarily to generate electricity. If the government had chosen to charge citizens the actual cost of production, electricity bills would have risen to four times their current rates.
Moreover, Sisi Directed The necessity of launching a new social protection initiative aimed at supporting low- and middle-income groups in the face of rising costs. While reaffirming the government’s commitment to supporting basic goods for vulnerable population groups, he stressed that borrowing foreign currencies to cover the consumption of Egypt’s growing population of 120 million people was untenable.
The president too I confess Media criticism regarding government transparency and urging officials to provide clearer communications regarding important economic decisions. He assured citizens that the government measures are thoughtful and aim to reduce costs for residents.
On the issue of Sisi’s energy policy shown Egypt aspires to achieve 42% renewable energy by 2030, hoping to exceed this goal.
Finally, the President of Egypt Named For national cohesion during these turbulent times, and to remind attendees of the lessons learned from historical conflicts.