Latest news with #Homsany
Egypt Independent
5 days ago
- General
- Egypt Independent
Egypt government announces relocation of Ras al-Hekma residents to Shams al-Hekma
The Egyptian Cabinet's spokesperson Mohamed al-Homsany said that work on Shams al-Hekma, the alternative area for Ras al-Hekma residents, is now nearing completion. During a phone interview with Al-Hayat TV channel, Homsany indicated that many services have already been completed, explaining that the relevant authorities have facilitated the relocation of citizens. Citizens residing in the first phase have been relocated to the Shams al-Hekma area, near Ras al-Hekma city, he stated. The Cabinet spokesperson noted that some facilities have reached 100 percent completion, while other work is nearly 98 percent complete. He noted to the construction of a new experimental school in the Shams al-Hekma area, comprising 28 classrooms, indicating that it will officially enter service during the next academic year.
Egypt Independent
23-06-2025
- Business
- Egypt Independent
Egypt is prepared for all scenarios: Cabinet spokesperson
The Egyptian Cabinet's spokesperson Mohamed al-Homsany said that the government is closely monitoring regional developments, especially in light of the recent US strikes on Iran, and is working to study all possible scenarios to minimize the impact on the Egyptian economy. During a Sunday telephone interview with the Extra News channel, Homsany explained that the Crisis Management Committee reviewed several potential economic challenges, including rising oil prices, increased shipping and insurance costs, and the potential impact on supply chains. These risks are not limited to Egypt, he said, but are faced by most countries around the world and therefore requires readiness to mitigate their repercussions on the Egyptian economy. Regarding basic commodities, Homsany assured that the strategic stock of food commodities is safe and secure, sufficient for several months, with some commodities having a stockpile exceeding six months. 'This stockpile was established last year under the direction of President Sisi, in anticipation of any regional developments, and we have succeeded in securing it in a manner that ensures citizens' needs are met for the long term.' Each ministry is developing detailed plans to address various scenarios, he emphasized, including the availability of petroleum and natural gas, the continuity of food supply chains, and the provision of essential goods even if the crisis extends for a long period. The Cabinet spokesperson further confirmed that the state has been working for months to ensure energy security, by equipping and connecting three liquefied natural gas (LNG) vessels to the national natural gas grid, and the arrival of a fourth vessel soon to enhance the capacity to import LNG, and modernizing the energy sector's infrastructure. Homsany added that 'The current plan was prepared in advance to meet summer needs, and according to the Prime Minister's statements, electricity needs during the summer are fully secured and there are no concerns about power outages.' The monetary policy adopted by the Central Bank of Egypt relies on a flexible exchange rate system, he noted, which allows for a natural balance in the market between ups and downs. He explained: 'The monetary policy has succeeded in eliminating the parallel market and providing the full need for foreign currency, as our foreign exchange resources have become consistent with our needs for the third consecutive month.' Edited translation from Al-Masry Al-Youm
Egypt Independent
17-06-2025
- Business
- Egypt Independent
Egypt says committed to not raising fuel prices until October
Egyptian cabinet spokesperson Mohamed al-Homsany explained that the impact of the current Iran and Israel war on the Egyptian economy hinges on how the crisis continues to unfold, and whether it will be contained in the short term or persist for longer. During a telephone interview with TV host Lamis al-Hadidi on Monday, Homsany added that 'In principle, it is very likely that oil price fluctuations will affect the economies of the region and the world, not just Egypt, even if they fluctuate between ups and downs.' The government's promise not to raise fuel prices for six months was confirmed by the Prime Minister and the Minister of Petroleum, and the government is committed to it until October, he said. 'We hope that the crisis will be contained before that date,' Homsany added. 'It is very likely that it will have an impact on the efforts of various governments to reduce inflation rates.' 'Among the impacts, as many analysts have pointed out, if the crisis lasts a long time, global supply chains will be affected, and this will consequently be a factor influencing the economic conditions in various countries,' he said. He noted that the macroeconomic indicators of various countries around the world may be also affected, but 'the final extent of our impact from the crisis cannot be determined.' The government has generally decided to act proactively to address the situation by forming a committee and then making the appropriate decision at the highest possible level at the appropriate time, Homsany said. 'Specifically, with regard to providing the state's needs for petroleum products and natural gas, the government has anticipated any situation through a plan that has been developed over the past months to meet those needs,' he concluded.
Egypt Independent
17-06-2025
- Business
- Egypt Independent
Egypt reassures citizens on fuel and electricity supplies amid regional turmoil
Egyptian cabinet spokesperson Mohamed al-Homsany assured that the state is closely monitoring regional developments and their potential impact, noting that the government has formed a committee of the relevant authorities to secure the country's petroleum needs and prepare for any emergency. During a telephone interview on Monday with the TeN satellite channel, Homsany explained that three gasification vessels have been contracted – one of which has already been connected – as part of a proactive plan to secure natural gas supplies. There will be no negative impact on supplies, he assured, emphasizing ongoing efforts to ensure stability in the local market. Homsany noted that there is full coordination between the Ministries of Electricity and Petroleum to ensure the provision of natural gas to power plants, with the possibility of relying on diesel if necessary, to operate plants at maximum production capacity during peak periods. The Electricity Ministry is working to improve the efficiency of plants as part of a strategic vision to rationalize consumption and increase reliance on new and renewable energy sources, he explained. The spokesperson added that the government is also launching major projects in generation and electrical interconnection with Arab countries, as part of a comprehensive national plan to ensure the sustainability of the energy sector.
Egypt Independent
21-05-2025
- Politics
- Egypt Independent
Relations between Egypt and Saudi Arabia are solid: Official
Egyptian Cabinet Spokesperson Mohamed al-Homsany said that the visit of the Speaker of the Saudi Shura Council to Egypt and his meeting with Prime Minister Mostafa Madbouly comes as part of reciprocal visits between both countries. During a phone interview with TV host Sherif Amer on the program 'Yahdoth Fi Masr' (Happening in Egypt), broadcast on MBC Masr, Homsany emphasized that relations between the two countries are strong and solid, with ongoing communication at various levels. Telations between Egypt and Saudi Arabia, both at the official and popular levels, are very close, a point Madbouly emphasized during the meeting on Tuesday. Homsany indicated that an agreement was reached on Tuesday to form the joint Egyptian-Saudi Supreme Coordination Council. He assured that the visit is, 'Not a response to any rumors, but rather comes to strengthen cooperation between the two countries and as part of a series of ongoing visits that reflect the depth of bilateral relations.'
