Electricity sector accounts for LE 45.3B of Egypt’s public investments in 20/21

CAIRO – 26 April 2020: Electricity sector allocates LE 45.3 billion of public investments in Egypt’s sustainable development plan for the fiscal year 2020/2021, according to Minister of Planning Hala el-Saeed.

These investments will help in the implementation of several strategic projects, including, electrical feeding to East Al-Uwaynat, and projects for extracting minerals from black sand, and the power linkage project with Sudan. In addition, the projects will include transferring and transforming the conflicting network with the project of developing national roads, completing the nuclear plant in Dabaa, electrical feeding to the southeastern coast, and replacing air lines with terrestrial cables.

EGX announces trading hours during the Holy month of Ramadan

CAIRO - 23 April 2020: The Egyptian Exchange (EGX) decided the time of trading session during the Holy month of Ramadan. EGX added on its website that trading session of main market listed securities and SMEs market (NILEX); will be from 10:00 am to 1:30 pm, preceded by a discovery session at 9:30 am.

Saeed delivered a statement of the sustainable development plan project for the fiscal year 20/2021; the third year of the mid-term plan 18 / 2019-21 / 2022, on Tuesday, before the plenary session of the House of Representatives, headed by Dr. Ali Abd El Al, Speaker of Parliament.

Electricity linkage with Sudan starts experimental operation

CAIRO - 12 January 2020: Minister of Electricity and Renewable Energy announced that electricity linkage with Sudan started experimental operation on Sunday and that if it goes well in the next 24 hours, the project will be officially launched in a ceremony by the end of this week.

The minister said that everyone should cooperate and adhere to the precautionary precautions to confront the Corona virus, noting that we are facing a state of uncertainty; it is difficult to determine the required procedures precisely, but it requires the greatest degree of adaptation and flexibility in taking necessary actions and at the appropriate times.

Things to know about Egypt's sustainable development plan for 20/21

CAIRO - 26 March 2020: Egypt's cabinet approved the sustainable development plan for 2020/2021, that was prepared in light of the negative repercussions of the spread of the Corona virus on the global economy, and its expected effects on the Egyptian economy.

She indicated that according to the first scenario - which is the likely scenario - the crisis ends with the end of the current fiscal year (June 2020), but if the crisis continues according to the second scenario until the end of December 2020, the expected estimates will be reduced 30 percent than the first scenario.

Egypt's budget in COVID-19's era

CAIRO - 21 April 2020: Coping with the global and economic circumstances taking place as a result of coronavirus (COVID-19) and the precautionary measures taken to curb it, Egypt's cabinet, headed by Prime Minister Mostafa Madbouli, approved, on March 26, the draft budget and the sustainable development plan for the new fiscal year 2020/2021.