
Transport Minister responds to criticism over Menoufia accident
In an interview with TeN TV on Sunday, he said, 'Whoever attacks, attack. I am happy with their attacks. There is no problem at all. It gives us a chance to respond and explain to our people.'
Wazir indicated that he coordinated with the Interior Minister to assign committees to take random samples from all road users at all checkpoints to ensure they are not using drugs.
He noted that the tests will initially apply to microbus and truck drivers.
He explained that Egyptian President Abdel Fattah al-Sisi has ordered the development of a clear timeline for the full development of the Regional Ring Road, adding, 'People say you are spending a billion pounds on the road. No, the road will cost no less than LE50 billion to improve its efficiency and development.'
'The president directed that we develop a very tight timeline. As for those who say, 'You don't have money?' No, we do. The money comes from the toll collected on the road and will be spent on it,' he explained.
The minister affirmed his full commitment to his duties towards serving the nation, emphasizing that his ministry does not waste public funds and operates with complete transparency on road development projects.
The minister said, 'We, as the Ministry of Transport or the Roads Authority, do not spend money on nothing.'
'The Regional Ring Road was nonexistent eight years ago and cost more than LE 20 billion to build. Developing the road will cost LE50 billion at today's prices,' he explained.
Regarding the budget, the minister explained that 'The allocation for Transport Ministry from the general budget is between LE 20 and LE 40 billion, even though we need more than LE 60 billion.'
Wazir added 'Anyone who doubts the transparency of operations should bring in the largest international consultant to review our work, and I will pay his salary.'
He also called for a cost comparison, saying, 'Go and see how much a road costs in Saudi Arabia and how much it costs us.'
Wazir urged media professionals to study topics before presenting them, or to consult specialists for discussion.
Edited translation from Al-Masry Al-Youm
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Egypt Independent
2 hours ago
- Egypt Independent
PM lauds historic gov't, people-to-people ties with Japan
Egypt's Prime Minister Mostafa Madbouly reaffirmed the strength of Egypt-Japan relations, praising historic ties at both governmental and popular levels and expressing his intent to expand cooperation in various sectors. The remarks came during a meeting on Tuesday, August 19, 2025, with Japanese Minister of State for Economy, Trade, and Industry Koga Yuichiro. The meeting was attended by senior officials, including Minister of Planning, Economic Development, and International Cooperation Rania al-Mashat, Education Minister Mohamed Abdel Latif, Chairman of the Suez Canal Economic Zone Authority Walid Gamal El Din, Egyptian ambassador to Japan Mohamed Abu Bakr, and the heads of the Egypt-Japan Business Council Ibrahim al-Arabi and John Karubi. The meeting preceded the Egypt-Japan Business Council Forum in Tokyo. Madbouly also conveyed President Abdel Fattah al-Sisi's appreciation for the strong ties between Cairo and Tokyo. During the meeting, the Japanese minister welcomed Madbouly on his first visit to Japan, noting Tokyo's interest in strengthening cooperation with Cairo in various sectors and reinforcing Japan's role as a reliable partner for Egypt. He noted several areas for joint collaboration, with particular focus on education, describing it as a key driver of development and progress.


Egypt Independent
2 hours ago
- Egypt Independent
FM, Palestinian PM visit Arish Hospital to check on the wounded from Gaza
Palestinian Prime Minister Mohamed Mostafa paid a visit on Monday, August 18, 2025, to Arish General Hospital, accompanied by Egyptian Minister of Foreign Affairs, Emigration and Expatriates Badr Abdelatty, to check on the condition of wounded Palestinians receiving treatment there. The officials reviewed the latest medical care provided to the injured who were transferred to Egypt as part of its ongoing efforts to receive thousands of wounded Palestinians and their companions for treatment. They also inspected the medical services and surgical interventions offered to civilians injured in the Israeli assault on the Gaza Strip. The Palestinian premier expressed deep appreciation for the comprehensive care provided to the wounded in Egyptian hospitals, praising Egypt's efforts to provide them with essential medical and surgical services.


Al-Ahram Weekly
3 hours ago
- Al-Ahram Weekly
Short-term pain, long-term gain - Egypt - Al-Ahram Weekly
Developments on Egypt's economic scene have enhanced prospects for recovery provided that further efforts are made to address the debt burden. In a move seen by investors as a sign of stability in monetary policy, Hassan Abdalla, governor of the Central Bank of Egypt (CBE), was reappointed for another one-year term this week. Abdalla, who assumed the role in 2022 following Tarek Amer, has navigated a series of economic challenges, including multiple currency devaluations, runaway inflation, capital outflows, and negotiations with the International Monetary Fund (IMF). His commitment to a flexible exchange-rate regime has earned him strong support from the business community. President Abdel-Fattah Al-Sisi met with Abdalla on Monday following the renewal announcement to discuss efforts to maintain low inflation and strengthen the country's foreign-exchange reserves. July's inflation rate eased to 13.9 per cent year-on-year, down from 14.9 per cent in June, its lowest level since March. Meanwhile, Egypt's international reserves reached a record high of $49.036 billion in July, supported by stronger inflows from export receipts, tourism revenues, and remittances from Egyptians abroad. Presidential Spokesperson Mohamed Al-Shenawy stated that during the meeting the president emphasised the importance of securing sufficient dollar resources to ensure stable supplies of essential commodities, petroleum products, and production inputs for factories. Abdalla's reappointment comes at a time when Egypt is expected to begin a phase of monetary easing to capitalise on declining inflation, stimulate investment, and reduce the burden of high interest rates on public debt. According to financial consultancy Capital Economics, inflation is projected to remain in double digits until the first quarter of 2026, before falling within the CBE's target range of seven per cent ±2 per cent by mid-2026. Given high real interest rates, analysts expect the CBE to resume its monetary easing cycle with a one per cent rate cut, bringing the benchmark rate to 23 per cent in its 28 August meeting. Abdalla's term has seen the Egyptian pound strengthen by five per cent against the dollar since the beginning of 2025. Capital Economics noted that the currency remains competitive by most measures, which could support GDP growth and reduce risks associated with the current account deficit. After widening to more than six per cent of GDP at its peak last year, balance of payments data for the first quarter of this year showed that (on a four-quarter sum basis) the current account deficit narrowed to 4.8 per cent of GDP. Egypt's economy is projected to grow by between 3.5 per cent and 4.5 per cent in 2025, according to multiple international institutions. James Swanston, Chief Economist for the Middle East and North Africa at Capital Economics, acknowledged that past gains in the pound had raised concerns about potential CBE intervention, which previously led to overvaluation and disruptive devaluations. However, he added that 'we are not so alarmed this time around.' Swanston praised Egypt's balance of payments performance, noting that non-energy goods exports had reached their highest share of GDP since 2011 at 10.9 per cent. The services trade surplus also improved, despite declining Suez Canal revenues, thanks to increased competitiveness in the tourism sector. Reports from TUI, Europe's largest package holiday operator, at the end of 2024 indicated that many travelers were choosing Egypt as a more affordable alternative to European destinations like Spain, according to Capital Economics. In the four quarters leading to the first quarter of 2025, tourism receipts rose to a 14-year high of 4.6 per cent of GDP. Tourism revenues climbed 15.4 per cent year-on-year to $12.5 billion, supported by a surge in tourist nights to 134.3 million, up from 116.4 million. These improvements were reflected in a drop in the cost of insuring Egypt's five-year sovereign debt, with credit default swaps (CDS) falling to 438 basis points, their lowest level in nearly four years. This decline signals reduced default risk, thanks to stronger foreign currency inflows. Historically, Egypt's CDS ranged between 257 and 325 basis points, but surged due to domestic economic challenges and global geopolitical tensions. Hany Genena, Head of Research at Ahly Pharos, noted on Facebook that while the current CDS level is 1.3 per cent above the historical average of 300 basis points, it remains encouraging despite a decline in natural gas production and delays in the IMF's fifth review of Egypt's loan agreement. He added that reaching 200 basis points would be optimal for Egypt's debt outlook. However, concerns about Egypt's external debt also resurfaced last week. The CBE revised its 2026 external debt-service projections upward by $1.9 billion, reaching $27.9 billion. This includes $22.7 billion in scheduled loan repayments, up from $21.1 billion. The new figures sparked controversy on social media, especially given the government's announcements that it is working to reduce foreign debt as a percentage of GDP. These concerns overshadowed Finance Minister Ahmed Kouchouk's announcement that Egypt had recorded its highest-ever primary surplus of LE629 billion, or 3.6 per cent of GDP, in the 2024-2025 financial year, an 80 per cent year-on-year increase. The primary surplus reflects the difference between government revenues and expenditures, excluding debt repayments. The Egyptian Initiative for Personal Rights, an NGO, responded by emphasising that the surplus does not reflect the full picture, as debt installments and interest account for nearly two-thirds of total government spending. In fact, interest payments alone were nearly three times the surplus being celebrated, it said, adding that when converted into dollars, the surplus amounts to $13 billion, which is insufficient to cover Egypt's external debt obligations for the first half of 2025. However, some commentators praised the government's fiscal policies, citing improvements in the public revenue structure through increased tax collection, subsidy rationalisation, and tighter public spending together leading to achieving the historical primary surplus. Tax revenues saw their fastest growth in years, surging 35.3 per cent year-on-year to LE2.2 trillion in 2024-2025. Kouchouk attributed this to reforms aimed at broadening the tax base, resolving pre-2020 disputes, and simplifying the small and medium-sized enterprises (SME) tax regime. In a meeting with the president and prime minister last week, Kouchouk reported that between February and August 402,000 companies had applied to settle pre-2020 tax disputes and over 104,000 SMEs had requested to qualify for new tax breaks, under which they will be taxed based on turnover. The top news last week was the decision by the banks to raise the foreign currency limit for travelers from $5,000 to $10,000 and to reduce foreign-currency credit card commission fees from five per cent to three per cent. The restrictions were originally imposed during the dollar crunch, which now appears to be easing. 'The upshot is that the devaluation brought short-term pain, but we're beginning to see long-term gains materialise,' Swanston said. He expects the current account deficit to narrow further, supported by stronger services exports and rising tourism receipts. The government projects a record 18 million tourists will visit Egypt this year. If ceasefires in the region hold and Red Sea shipping disruptions ease, Suez Canal revenues should also improve. 'The improvements in the balance of payments underline that macroeconomic stability in Egypt is being restored. The focus now should be on advancing structural reforms to unlock stronger GDP growth in the medium to long term,' Swanston concluded. * A version of this article appears in print in the 21 August, 2025 edition of Al-Ahram Weekly Follow us on: Facebook Instagram Whatsapp Short link: