With President Sisi having secured a third term at the end of 2023 (MEES, 15 December 2023), reappointed Prime Minister Mostafa Madbouly this week announced his new cabinet to coincide with the start of the Egyptian financial year on 1 July.
Wholesale changes include the replacement of Tarek El Molla as petroleum minister with Karim Badawi, and Mohamed Shaker with Mahmoud Esmat as the electricity minister (see table). Both Mr Molla and Mr Shaker are seen as taking the blame for the slump in gas output which has seen worsening power cuts in recent weeks and months. The over-arching feeling among industry insiders canvassed by MEES is that “change was a must” in both positions. But reversing Egypt’s chronic gas deficit and power shortages will be easier said than done. (CONTINUED - 2001 WORDS)
