{"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

\n

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":"single-feature.php","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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Security sources speaking to Reuters placed the figure at 12. Most of those hurt were South African tourists. No deaths have yet been reported. It was\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":599034,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/17\/what-were-tracking-on-17-june-2019\/","url_meta":{"origin":684983,"position":1},"title":"What we\u2019re tracking on 17 June 2019.","author":"enterpriseam admin","date":"17 June 2019","format":false,"excerpt":"We\u2019re particularly happy to kick off this morning\u2019s Speed Round with a run of investment and M&A news. Domestic and cross border, big ticket and small \u2014 there\u2019s no better way to start your day. 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The first flights from Moscow to Egypt\u2019s Red Sea coast in six years are set to land in Hurghada\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":592904,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/12\/what-were-tracking-on-12-november-2019\/","url_meta":{"origin":684983,"position":3},"title":"What we\u2019re tracking on 12 November 2019","author":"enterpriseam admin","date":"12 November 2019","format":false,"excerpt":"We don\u2019t know whether to be grateful it\u2019s already Tuesday, or to cry for all of the things that won\u2019t get done in a shortened workweek. 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