Egyptian Finance Minister Ahmed Kouchouk announced that Egypt will not witness a return to load shedding for 2025.
Kouchouk assured that there will be no reduction in electricity load, and this year will not see as many power outages.
The ministries of Electricity and Petroleum are working on initiatives to generate electricity in multiple and cleaner ways instead of burning oil, and other electrical interconnection projects, he added.
During an interview with TV host Lamis al-Hadidi on “Kalema Akhera” (Last Word) TV show on Sunday evening, Kouchouk explained that the Egyptian state has paid between 25-30 percent of the arrears of foreign partners in the petroleum sector.
The minister said that one of the most important priorities that the Egyptian state is working on is “returning foreign investments in the petroleum sector to normal rates and achieving self-sufficiency in natural gas.”
He revealed that the petroleum subsidy bill by the end of the current fiscal year is between LE150-155 without any excess.
Good news for 2025
Kouchouk said that 2025 will bring a lot of positive news and that the state will be able, with more coordination and reforms, to reduce inflation strongly and reduce the cost of borrowing, which will have an impact on prices.
He noted that the state is about to announce new initiative between Finance Ministry and Petroleum Ministry to convert cars that run on natural gas and save citizens approximately LE1,500 per month.
Kouchouk assured that during the next six months there will be no increase in burdens, then there will be an assessment to the situation and that the state “will not leave the citizen without alternatives.”
