Egyptian Electricity Ministry’s dues to government sectors hit EGP 114B end-May

Updated 7/7/2024 12:39:00 PM
Egyptian Electricity Ministry’s dues to government sectors hit EGP 114B end-May

Arab Finance: The Egyptian Ministry of Electricity and Renewable Energy's dues to all government sectors rose by 14% in the two-month ended May to EGP 114 billion, an unnamed source told Asharq Business.

At the end of the first quarter (Q1) of this year, the ministry’s dues were approximately EGP 100 billion.

The ministry is currently grappling with a decline in revenues and increased financial burdens following the adjustment of the EGP's exchange rate, which led to higher costs for fuel, loans, spare parts, and maintenance.

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