Arab Finance: Dr. Mostafa Madbouly, Prime Minister, held the weekly press conference, following the government meeting at its headquarters in the New Administrative Capital, in the presence of Ahmed Kouchouk, Minister of Finance, and Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade. He began by referring to the meeting he held with a number of intellectual figures, They represent an elite group of experts and thinkers in various fields, representing various spectrums of society and different movements.
He stressed that the region is currently going through a very exceptional stage that it has not gone through before for several decades, explaining that even in historical periods in which the state was a party to direct wars, there was a clear direction of events, and there was the possibility of planning based on data already existing on the ground, but In light of the current stage, the situation is changing daily, as the region is experiencing a severe state of uncertainty.
Dr. Mostafa Madbouly pointed out that the government is working to deal with this situation through a package of measures and policies, which in part represent a reaction to deal with current events, and at the same time the state is also working to develop a set of scenarios that are constantly being changed as a result of developments and developments. Current.
The Prime Minister gave an example of this, as he pointed to the increase in the price of a barrel of oil by 10% in just one week, explaining that Barrel price It used to range between $72 to $73, but today its price has exceeded $80 as a result of the recent developments taking place in the region.
Dr. Mostafa Madbouly also pointed out the size of the burden that the Egyptian state bears in this regard, pointing out that the danger is not only in price increases, but that there are estimates from international institutions that expect the price of a barrel of oil to exceed $100, if infrastructure projects in the region are targeted. .
At the same time, he pointed out that the government is forced to deal with challenges beyond its control, because of their direct impact on Egypt, explaining the impact of current developments in the region on the logistical supply of energy other than the price, its effects on the regular arrival of shipments, and its repercussions on the cost of transportation, explaining The government has not taken any exceptional measures throughout the recent period, despite recent events, indicating the continued regularity of providing electricity and gas and procuring the necessary energy for factories.
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