In the latest Central Crisis Management Committee meeting amid the ongoing US-Israeli-Iranian military crisis, Egypt has lifted the 11 p.m. mandatory closing time for shops, commercial centers, and restaurants, while launching a solar energy incentive program for homes and factories. This follows March's austerity measures and wage hikes. Cabinet spokesman Mohamed El-Homosany confirmed the approvals.
Prime Minister Mostafa Madbouly, who chaired the April meeting reviewing local, regional, and global economic repercussions, directed the swift rollout of the solar transition initiative, placing renewable energy at the forefront of the government's agenda.
The committee is developing scenarios based on the conflict's duration and scope, coordinating to secure strategic reserves of commodities and petroleum products per President Abdel Fattah al-Sisi's directives.
Madbouly stressed strict market oversight to curb manipulation, ensure goods availability at fair prices, rationalize government spending, and promote conservation of electricity and petroleum amid disruptions.
Planning Minister Ahmed Rostom referenced IMF forecasts of global growth slowing to 3.1% in 2026 from 3.4% in 2025, MENA at 1.1% due to rising energy/food prices and investor caution, and global trade at 2.8%.
Attendees included Deputy PM Hussein Issa, Central Bank Governor Hassan Abdalla, and various ministers, building on prior sessions.