Egypt: Egypt announced a package of temporary economic and social measures to cushion the impact of surging global energy prices and volatile financial markets following escalating military tensions in the region.

According to State Information Service Egypt, the government is leading by implementing immediate spending cuts across ministries and state agencies. This move reflects a commitment to share the burden of current challenges while ensuring social considerations remain central to all policies.

Prime Minister Moustafa Madbouly has ordered daily monitoring of global market developments, particularly energy prices and international capital flows. This measure aims to enable authorities to take pre-emptive steps to protect the national economy and maintain domestic market stability.

The measures aim to secure energy supplies, support foreign currency inflows, contain government spending, and expand social protection for vulnerable households while global markets remain uncertain. The plan involves closely tracking petroleum import schedules and existing supply contracts, relying on previously arranged hedging agreements, and coordinating with international energy partners to ensure steady supplies and boost domestic production.

The government is also collaborating with the Central Bank of Egypt to strengthen foreign-currency inflows. This includes accelerating financing from international institutions, expanding the state asset-sale programme in the coming months, and attracting foreign direct investment.

The government's crisis committee described these measures as 'temporary' steps designed to strengthen the economy's resilience and ensure the continued availability of essential goods and petroleum products until global trends become clearer. The government will continue monitoring international developments daily and stand ready to review the steps if global energy prices improve, aiming to maintain stability in domestic markets and ease pressure on households and productive sectors.