Egypt govt. pledges financial boost for petroleum sector – FinMin

By Aya Anwar On Aug 20, 2024

Mostafa Madbouly, Prime Minister, held an evening meeting at the government headquarters in the New Administrative Capital to review investment opportunities in the petroleum, gas, and mining sectors - Cabinet

Egypt’s Finance Minister Ahmed Kouchouk has outlined a comprehensive plan to bolster the petroleum sector with essential financial resources. The strategy, unveiled during a recent meeting chaired by Prime Minister Moustafa Madbouly on Tuesday, aims to ensure the sector has the necessary funds to meet its critical objectives, including the supply of petroleum products and the mitigation of power outages.

The plan prioritises streamlining financial allocations and enhancing support for the petroleum industry’s operational and developmental needs. This initiative is a cornerstone of broader efforts to stabilize energy supplies and foster sustainable growth within the sector.

Attribution: The Egyptian Cabinet

Subediting: Y.Yasser