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Egypt Balances Energy Costs and Debt | Egypt News
Egypt’s facing a tough energy cost crunch as global prices soar, but instead of passing the pain to citizens, the government’s absorbing some of the blow—boosting its deficit and debt short-term to shield households. With oil imports down and prices doubled, they’re doubling down on renewables, aiming for nearly half their electricity from solar and wind to break free from volatile global markets. Meanwhile, they’re aggressively tackling debt, slashing $6.5 billion in external debt over three years and targeting $1.5–$2 billion more annually through smarter spending, local production, and…
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