The Madbouly cabinet approved new legislation and key measures during its weeklymeeting on Thursday, including biosecurity regulations, new working days for banks in ports, and a cap on public debt.

#1- Biosecurity regulations get the green light: The Madbouly government approved a draft law regulating the activities of biosecurity and biosafety facilities operating at levels three and four within Egypt. The law mandates that unlicensed facilities regularize their status within one year of the executive regulations’ issuance, with a possible extension granted by the prime minister upon cabinet approval.

The details: The law sets stringent licensing, safety, and staffing requirements, while introducing penalties for violations. It also establishes a National Center for Biosecurity and Biosafety under the Prime Minister’s authority to tackle biological threats, oversee research, and align with national security priorities. As the country’s go-to authority on biosafety, the center will report annually to the president on its progress and strategy.

#2- Setting an annual debt ceiling for government entities: Cabinet also approved amendments to the Unified Budget Act, setting an annual debt ceiling for the government and all 59 of its economic bodies. The move includes establishing dedicated financial management units within the Finance Ministry and accounting units across all entities to ensure compliance.

#3- Bank branches at ports to work seven days a week: The cabinet also approved a new mechanism to ensure all entities responsible for customs clearance work seven days a week, including bank branches at ports. The move aims to speed up the release of goods and reduce clutter at ports.

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