Due to the situation in the Middle East, Egypt introduces emergency measures to save fuel and electricity
For now, an exception is made for tourism.
Photo: vecteezy.com
The Egyptian government has introduced emergency measures to save electricity amid soaring fuel prices caused by the war with Iran. All retail outlets and public catering establishments are obliged to cease operations no later than 9:00 PM.
The restrictions are a response to the de facto blockade of the Strait of Hormuz, through which up to 20% of global oil and gas supplies passed. Although Egypt is not a party to the conflict, its reliance on imported fuel has made the country's economy very vulnerable to external shocks.
The country's Prime Minister Mostafa Madbouly noted that gasoline costs alone more than doubled in March, reaching $2.5 billion.
In addition to the early closure of businesses, the government has adopted a number of other «exceptional measures» that will be in effect for a month.
These include dimming street lighting and billboards, reducing fuel limits for government vehicles by a third, and shifting many employees to remote work one day a week in April.
Hotels and tourist facilities will remain an exception, as tourism accounts for about 10% of the Egyptian economy.
The situation is complicated by the fact that shipping through the Strait of Hormuz has almost ceased due to Iran's threats to attack oil tankers. The crisis is also beginning to affect other regions: in Ethiopia, state-owned companies have already been ordered to send some staff on leave to save transportation fuel.
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