Madbouly explained that Egypt is positioning itself as a
regional energy hub, not only producing gas but also serving as a trading
center for the region. This is supported by major infrastructure, including
liquefaction plants in Idku and Damietta, which are not widely available in
neighboring countries. As a result, many nearby nations with significant gas
production seek agreements with Egypt to utilize this infrastructure for
exporting their output.
He added that Egypt secures gas not only from the Leviathan
field but also through agreements with Cyprus, while negotiations continue with
other regional partners. The measures aim to maintain Egypt’s strategic role as
a primary energy center in the region over the coming decades.
Addressing political concerns, Madbouly emphasized that this
agreement does not affect Egypt’s firm stance on Gaza or its broader political
positions. Egypt’s approach remains constant, reflecting the principles upheld
by the President in meetings with world leaders.
On the economic front, the Prime Minister highlighted
positive indicators. Inflation fell to 13.1% in July from 14.4% in June, with
an average of 15.3% in Q2 2025, down from 29.4% during the same quarter last
year. The government is coordinating with the Federation of Chambers of
Commerce to monitor the downward inflation trend and explore reducing profit
margins for companies and the private sector on essential goods, benefiting
citizens by lowering final prices.
Madbouly noted that exports increased by over 22% recently,
with remittances and tourism revenues showing significant growth. Core economic
sectors continue to expand, while Suez Canal revenues have declined due to
geopolitical challenges. Overall, sustainable foreign currency resources are
growing, and the government is updating measures to support private sector
growth.
Finally, he announced the signing of an agreement to
establish the largest tire factory in the Suez Canal Economic Zone, with
investments of $1 billion. Once completed within three years, the factory will
produce more than 10 million tires annually.