{"id":684983,"date":"2026-02-17T00:00:00","date_gmt":"2026-02-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/17\/the-government-is-wagering-that-a-no-blackout-summer-is-worth-the-sizable-deficit-hit\/"},"modified":"2026-03-11T10:13:41","modified_gmt":"2026-03-11T10:13:41","slug":"the-government-is-wagering-that-a-no-blackout-summer-is-worth-the-sizable-deficit-hit","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/17\/the-government-is-wagering-that-a-no-blackout-summer-is-worth-the-sizable-deficit-hit\/","title":{"rendered":"The government is wagering that a no-blackout summer is worth the sizable deficit hit"},"content":{"rendered":"

G<\/strong>ood morning, friend<\/strong>s. <\/strong>It looks like winter is here to stay after last night\u2019s heavy rainfall, which took us by surprise and gave us reason to keep our coats and umbrellas at hand for just a little bit longer. <\/p>\n

Make sure to head out the door a little earlier than usual this morning<\/strong>, as we suspect that (in typical Cairo fashion) some roads will be flooded, resulting in some early-morning traffic jams.<\/p>\n

In today\u2019s issue, we\u2019re looking at a series of calculated wagers across <\/strong>the Egyptian economy. <\/strong>The most significant is a USD 11 bn LNG import plan \u2014 the government\u2019s way of placing its chips on the belief that social stability and a predictable operating environment are worth a massive hit to the deficit.<\/p>\n

Over in the private sector<\/strong>, while some parts of the real estate market may be showing signs of a supply glut, Bonyan thinks the smart money is hiding in the grade A office market and is seeing success on this front with a new lease to Nestl\u00e9.<\/p>\n

We\u2019re also tracking a shift toward industrial sovereignty<\/strong>, from the localized assembly of data centers (which hints at tightening data residency rules) to the ambitious attempt to manufacture wind turbines at home.<\/p>\n

***<\/strong><\/p>\n

WISH THIS MORNING\u2019S ISSUE was a podcast? We\u2019ve got you. Tap or click here<\/a><\/strong> to listen to Morning Drive, a 10-minute version of today\u2019s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses<\/strong>.
***<\/strong><\/p>\n

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Watch this space<\/p>\n

<\/a> ENERGY \u2014 The government <\/strong>is<\/strong> wagering that a no-blackout summer is worth <\/strong>a <\/strong>sizable deficit hit<\/strong>, with the country looking to secure USD 11 bn in LNG across 130 shipments starting June while also ruling out any electricity price hikes until then, two government officials tell EnterpriseAM. In the current climate, it seems the state thinks that a predictable operating environment and social stability are more important than the need to continue clamping down on energy spending.<\/p>\n

The news also illustrates continuity in the state\u2019s approach to its LNG needs<\/strong>, as the planned shipments will stem from the renewal of expiring supply agreements with Saudi Aramco, Trafigura, Vitol, Hartree Partners, and BGN, a government source in the oil sector tells us. The contracts will also allow cargoes to be deferred if demand softens \u2014 a pressure valve we leaned on last year too \u2014 while foreign companies will have to prioritize domestic demand starting April.<\/p>\n

News that electricity price hikes won\u2019t come before the new fiscal year is no <\/strong>surprise<\/strong>, with government sources having previously communicated the same plan to us<\/a>. Electricity tariffs have been frozen since the last adjustment in August 2024, and the policy could expand further with the approval of the new budget, we\u2019re told.<\/p>\n

Progress toward long-term energy independence will also support the state in keeping <\/strong>its commitment to have no power outages<\/strong> despite an expected demand rise of 6-7% in the hotter months of the year, a senior government source tells us. The official described a multi-pronged approach that will lean on boosting domestic fossil fuel production and building up renewable capacity.<\/p>\n

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LOGISTIC<\/strong>S \u2014 <\/strong>The <\/strong>government <\/strong>is exploring<\/a><\/strong> establishing a joint <\/strong>shipping <\/strong>route <\/strong>with Kenya<\/strong>, linking Egyptian Red Sea ports with Kenyan ports on the Indian Ocean, Foreign Minister Badr Abdelatty told his Kenyan counterpart during his time in Nairobi. A joint shipping route will give Egypt an anchor in an East African logistics center, as well as strengthen maritime security in the area.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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** DID YOU KNOW that we cover <\/strong>Saudi Arabia<\/a><\/strong>, the <\/strong>UAE<\/a><\/strong>,<\/strong> and the <\/strong>MENA-India<\/a><\/strong>Corridor<\/a><\/strong>?<\/strong><\/p>\n

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<\/a> <\/p>\n

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Data point<\/p>\n

<\/a> 99 \u2014 that\u2019s the number of companies that applied for a Startup ID<\/strong> in the first <\/strong>seven days since the government launched the <\/strong>Startup Charter<\/a><\/strong>, according to a statement<\/a> from the Micro, Small, and Medium Enterprises Development Agency.<\/p>\n

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PSA-<\/p>\n

<\/a> Ramadan hours will kick in starting tomorrow<\/strong>, with retail shops, malls, restaurants, and caf\u00e9s permitted to remain open until 2am daily throughout the holy month and Eid Al Fitr holiday, according to a Local Development Ministry statement<\/a>. Workshops in residential areas will have a closing time of 10pm, while food delivery services, supermarkets, bakeries, grocery shops, and pharmacies will have no restrictions.<\/p>\n

WEATHER- Our brief moment of summery weather will come to a close in Cairo today<\/strong>, with temperatures dropping to a high of 24\u00b0C and a low of 13\u00b0C, according to our favorite weather app.<\/p>\n

Over in Alexandria<\/strong>, temperatures will reach a high of 23\u00b0C and a low of 13\u00b0C.<\/p>\n

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The big story abroad<\/p>\n

It\u2019s <\/strong>an oddly calm morning in the global press<\/strong>, with headlines continuing to follow the tech selloff. Technology stocks are seeing hundreds of bns in losses<\/a> amid a reality check over exorbitant AI spending and murky earnings visibility, with investors pulling back from equities of Big Tech giants. Microsoft\u2019s market value saw the biggest dip compared to its peers, shedding some 17% YTD. Amazon, Nvidia, and Apple also saw their market value slip over the past month and a half. Meanwhile, more conventional equities \u2014 like Samsung and Walmart \u2014 have seen growth in their market value over the same period.<\/p>\n

For a deeper dive into the market\u2019s responses to AI<\/strong>, check out this morning\u2019s Planet Finance, below.<\/p>\n

And in the latest sign that 2026 is just not the greenback\u2019s year: <\/strong>Fund managers are more<\/a>pessimistic<\/a> about the USD than at any point in the last ten years, following its 1.3% drop against a basket of other currencies in 2026. Confidence in US assets is waning, and the currency is still vulnerable to further losses, experts at asset management players said.<\/p>\n

<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> EnterpriseAM\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices, and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue: <\/strong>We take a look at how Egypt is turning to wind power as the next frontier in its clean energy localization push, following earlier steps to manufacture solar components and batteries here in Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends. It looks like winter is here to stay after last night\u2019s heavy rainfall, which took us by surprise and gave us reason to keep our coats and umbrellas at hand for just a little bit longer. Make sure to head out the door a little earlier than usual this morning, as we […]<\/p>\n","protected":false},"author":1,"featured_media":684984,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[93,72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-684983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-energy","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"8ce126e5-94fc-4131-bd95-e964999e23eb","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/6\/1641.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The government is wagering that a no-blackout summer is worth the sizable deficit hit","related_issue":[684981],"teaser":""},"yoast_head":"\nThe government is wagering that a no-blackout summer is worth the sizable deficit hit - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/17\/the-government-is-wagering-that-a-no-blackout-summer-is-worth-the-sizable-deficit-hit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The government is wagering that a no-blackout summer is worth the sizable deficit hit\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. 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The document sees the deficit falling to 8.4% of GDP against an expected 9.6-9.8% this year. Sigma Capital chief economist Aya Abdullah sees\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634288,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/what-were-tracking-on-11-january-2018\/","url_meta":{"origin":684983,"position":1},"title":"What we\u2019re tracking on 11 January 2018","author":"enterpriseam admin","date":"11 January 2018","format":false,"excerpt":"A fairly slow news day abroad is balanced by a very busy one here in Egypt, so we\u2019re keeping the miscellany to a minimum this morning.Among the (very small) handful of international stories worth your time this morning: The \u201clast of the bears\u201d are still waiting in hope of a\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648112,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/29\/what-were-tracking-this-week-184\/","url_meta":{"origin":684983,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"29 May 2017","format":false,"excerpt":"House wants to know the impact of CBE\u2019s rate hike on debt, deficit: The House of Representatives\u2019 Budget and Planning Committee is meeting with Finance Minister Amr El Garhy to discuss the effect of the CBE\u2019s decision to hike interest rates on national debt and the budget deficit, Al Borsa\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651591,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/16\/651591\/","url_meta":{"origin":684983,"position":3},"title":"Our apologies for being a\u2026","author":"enterpriseam admin","date":"16 February 2017","format":false,"excerpt":"Our apologies for being a little late in your inbox this morning, but we ran into a technical hitch that took a couple of extra minutes to solve. We hope some of you enjoyed the extra few minutes of sleep. We\u2019ll be back at the usual time on Sunday morning,\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598249,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/what-were-tracking-on-20-may-2019\/","url_meta":{"origin":684983,"position":4},"title":"What we\u2019re tracking on 20 May 2019","author":"enterpriseam admin","date":"20 May 2019","format":false,"excerpt":"As many as 17 people were injured yesterday after an explosive device hit a touristbus near the Grand Egyptian Museum, the Associated Press reports. Security sources speaking to Reuters placed the figure at 12. Most of those hurt were South African tourists. 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A source told Al Mal the expectation is that Egypt would have to pay around 7%, \u201cfollowing the Fed\u2019s move to raise rates.\u201d This is higher than the 5.5-6% Deputy Finance Minister Ahmed Kouchouk had\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=684983"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684983\/revisions"}],"predecessor-version":[{"id":687556,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684983\/revisions\/687556"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/684981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/684984"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=684983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=684983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=684983"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=684983"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=684983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}