CAIRO – 17 July 2024: Prime Minister Mostafa Madbouly stated in a press conference Wednesday that power-saving electricity cuts would end on Sunday, July 21, until mid-September, revealing that electricity use increased by 12 percent in 2024. The prime minister unveiled that additional 3-4 GW will be needed in 2025, and that was the reason the government would accelerate increasing the share of renewables in the energy mix. In a related context, he highlighted that the inflation rate had been falling for the fourth month in a row. "To put an end to the frequent increase in the prices of goods, the government is working on boosting supply by promoting investment opportunities," the Egyptian prime minister said. Madbouli similarly shed light on the fact that the government succeeded in reducing foreign debt from $168 billion to $160 billion.

Source: Egypt Today July 17, 2024 21:19 UTC