Amwal Al Ghad - Dr. Mostafa Madbouly, Prime Minister, said, “The state is fully aware that to overcome this crisis we will face difficulty in 2024 and part of 2025 until we return to the rates of 2021, and Egypt is a large country and every citizen has the right to quality of life.”

He continued in a press conference at the Council of Ministers headquarters that Egypt faces a major challenge regarding the electricity issue, as the crisis is that the population increases every year with the addition of 2 million new citizens, saying: “We are all together facing the crisis.

Madbouly: A short-term plan to increase growth rates and revenues for the Egyptian economy

He explained, “Any successful and good economy is measured by indicators of inflation, growth, and unemployment, and the lower unemployment is, the better the economy. Egypt, with economic reform, and until 2021 achieved the magic equation, but after 2021, global crises occurred, and God forbid and whatever He willed, the state is developing a short-term plan over the next 5 years to increase... Growth rates and increased revenues.

e pointed out that the Central Bank is working on “how to combat inflation,” and weekly meetings are being held so that we can return to an inflation rate of less than 10% in 2025.

Prime Minister: The bill for free medicines for citizens exceeded 22 billion pounds

He pointed out that the bill for free medicines disbursed to the citizen reached 22 billion pounds, and that the prices of the metro and trains were increased to ensure the cost of operation and maintenance, and over the last 3 years there have been no increases in the transportation sector.

He pointed out that the cost of a kilowatt of electricity to the state amounts to 177 piasters, noting that with the increase in the cost, all segments began to pay less than the actual cost of the state, explaining that with the recent increase, electricity losses will reduce from 90 billion pounds to 70 billion pounds, and that this The increase represents 65% of the Egyptian people.

He continued that he asked the Minister of Electricity to develop scenarios to overcome the crises and another scenario to end the crisis within two years.

Prime Minister: 342 billion pounds, the total value of support in the general budget

He explained that electricity support reached 90 billion pounds this year alone, explaining that the support amounted to 342 billion pounds for all sectors related to electricity, bread, stove pipes, and diesel.

He pointed out that with regard to loaves of bread, there are 275 million loaves of bread daily that are baked from dawn until morning, which means 100 billion loaves of bread per year, and the cost of the loaf of bread bill is 91 billion pounds to the state.

He pointed out that with regard to the stove pipe, 280 million stove pipes are consumed annually, and 18 billion liters of solar energy are consumed annually.

He explained that the government followed up on the criticism directed at it after raising the prices of some goods, explaining that in the economic reform program in its first phase, there were assurances that reforming any economy requires rationalizing spending.

He added in a press conference that when the government began the economic reform program, it began to focus on rationalizing support, noting that in 2021 there was no support for petroleum products except for the stove pipe.

He pointed out that there was a plan to end electricity subsidies by 2024, and increases would occur year after year until 2025, explaining that the Egyptian state bore the citizen’s heavy burdens regarding inflation and high prices, and strategic measures were taken.