Egypt Watch

Egypt’s PM releases electricity consumption rationalization plan

Egyptian Prime Minister Mostafa Madbouly has announced a plan to rationalise the government’s use of electricity to exploit the natural gas pumped into power stations for export instead of domestic consumption.

The plan includes reducing the lighting of streets and public squares and cutting off electricity to government institutions immediately after working hours.

Madbouly also called on citizens to rationalize electricity consumption. This comes days after the Central Bank of Egypt announced a decrease in foreign reserves to about 33 billion dollars. The government said in May that foreign investors had withdrawn about $20 billion from the domestic debt market since the beginning of the year.