How Egypt Plans to End Power Cuts and Stabilize Economy with Ras Al-Hikma Contract and Foreign Investments

Councilor Muhammad Al-Homsani, spokesman for the Presidency of the Council of Ministers, answered the question: “When will we stop reducing loads and take advantage of the many dollar flows that will come from the Ras Al-Hikma contract, the IMF, European Union, and foreign investments in debt instruments?” To stop the power cuts? there were

He said in his statements on the program “Last Word” with the journalist Lamees Al-Hadidi, which was broadcast on the screen “ON E” on Monday night, that all previous contracts have been already completed. However, the system to receive funding from these parties is done in stages, indicating that the state is currently receiving the second batch of the Ras al-Hikma contract early next May. there were

He also said that the inflow will come from the International Monetary Fund, the European Union, and international partners in the form of continuous allocations and at times away, explaining that Egypt received only $ 15 billion so far, which is the first part of the Ras. al-Hikma contract, and the rest of the money will be received from international partners in the coming period. there were

He pointed out that the state had also benefited from another cash flow through foreign investments and increased remittances from Egyptians abroad, stressing that it was used to control the exchange rate as well as control commodity prices in the markets. By releasing billions of dollars worth of food, feed and medicine from customs. there were

He confirmed that the state is trying to rationalize spending so that priorities, such as medicines and food, are not affected, saying: “Using foreign resources to completely eliminate load reduction methods, therefore, that state spending on other services and important basic goods. to the citizen, such as medicines or food, it will be possible to deal with and overcome the current level of load shedding for two hours. But of course, we cannot give up medicine and food. ” There were