Cairo: Prime Minister Mostafa Madbouli confirmed that the amendments to the old rent law aim to establish a fair and balanced framework for the rental sector, stressing that the law will be enforced, in case of disputes, to safeguard the rights of both lessors and lessees. Speaking at a press conference following Wednesday's Cabinet meeting, Madbouli assured that Egypt's gas supply is fully secured for the next four to five years, protecting the country from potential market disruptions.
According to State Information Service Egypt, Madbouli explained that the temporary use of LNG regasification vessels will continue until domestic production recovers, supported by intensified exploration and drilling activities. He noted that foreign partners have resumed operations with renewed momentum, encouraged by the government's consistent payment of monthly dues and the significant reduction of outstanding arrears.
As a result, he said, there is no urgent need for direct gas purchase agreements, as Egypt is now able to launch competitive tenders and secure shipments at optimal prices and terms. On the role of Egyptians abroad, Madbouli underscored the importance of their confidence in the country's economic stability, describing their contribution to foreign currency inflows as "vital".
He highlighted ongoing government efforts to strengthen engagement with the expatriate community through initiatives such as the "Beit Al-Watan" housing project and Egypt's zero-customs car import initiative. He added that the Central Bank of Egypt (CBE) is currently reviewing new savings instruments to further encourage remittances.
The prime minister also revealed that the government is finalizing a comprehensive development strategy through 2030, as per Egypt's national objectives. He confirmed that the current IMF program is set to conclude in 2026.
Madbouli concluded by stating that, before the end of 2025, the government will present a five-year national economic plan outlining sector-specific targets, projected investments, and expected outcomes to ensure the State's full preparedness for the coming five years.