Madbouly announces price reduction initiatives
Updated 8/14/2025 2:28:00 AM
Arab Finance: Prime Minister Mostafa Madbouly announced a series of government-private sector initiatives to reduce commodity prices, the cabinet stated on August 13th.
In addition, Madbouly said the government will accelerate progress on all matters concerning citizens, including the immediate implementation of the recently approved old rental law.
In his weekly press conference following the cabinet meeting, Madbouly unveiled the outlines of initiatives agreed over the past two weeks to lower commodity prices. He noted that the measures are the result of coordination between the government and the federation.
Madbouly also addressed speculation regarding the government’s strategy for managing unused assets along the Nile Corniche and in historic Cairo.
He stressed that developing and investing in these lands, such as converting underused sites into tourism, hotel, residential, or administrative projects, aims to maximize returns without selling or abandoning state assets.
Projects will be pursued in partnership with the private sector in line with the State Ownership Policy Document.
In Khedivial Cairo, the government will preserve heritage buildings while revitalizing the area through adaptive reuse, improved public spaces, and pedestrian-friendly streets.
Development work is also ongoing in Azbakeya Park, the Azbakeya Wall, and Fustat Gardens, which will become the Middle East’s largest central park upon completion in September.
In the energy sector, Madbouly said Egypt recorded its highest-ever electricity consumption on Tuesday, August 12th, at 39,500 megawatts.
On the economic level, Madbouly noted that the government is discussing ways to further reduce profit margins on key commodities to ease prices.
He reported growth in exports, remittances, and tourism revenues, with only Suez Canal revenues declining due to geopolitical tensions.
The Prime Minister concluded by reaffirming that the state is moving decisively across economic, industrial, and social fronts to improve citizens’ lives, strengthen the economy, and protect Egypt’s strategic interests.
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