Egypt Achieves Historic Wheat Supply of 4.6 Million Tons

Dr. Mostafa Madbouly, Prime Minister of Egypt, chaired a government meeting today at the new administrative capital, where he began by congratulating President Abdel Fattah El-Sisi and the Egyptian people on the approaching Islamic New Year 1448 AH. He expressed his hopes for this occasion to bring goodness, security, and blessings to Egypt and all Arab and Islamic nations.

The meeting addressed the current regional crisis and its political and economic impacts on the region and the world. It highlighted Egypt’s ongoing efforts to de-escalate tensions and support negotiations between the United States and Iran aimed at resolving the crisis. Madbouly reaffirmed Egypt’s solidarity with its Arab neighbors and condemned repeated Iranian attacks that violate their sovereignty and threaten regional stability.

Madbouly also discussed recent activities by President El-Sisi, including a meeting with Isaias Afwerki, President of Eritrea. The two leaders discussed regional developments, particularly in the Horn of Africa, and emphasized cooperation to ensure security in the Red Sea and maritime freedom.

During this meeting, El-Sisi reiterated Egypt’s commitment to maintaining security in the Horn of Africa as part of its national security strategy. Afwerki expressed his appreciation for Egypt’s support for Eritrea’s developmental aspirations and acknowledged its efforts to promote peace and stability in the region.

In another significant development, Madbouly announced that Egypt has successfully cleared all dues owed to oil and gas investment partners, achieving zero outstanding payments for the first time in years despite challenges posed by regional conflicts and rising fuel prices. He attributed this success to continuous support from President El-Sisi and coordinated efforts within the government.

This achievement serves as a strong reassurance to current and potential investors about Egypt’s commitment to supporting investment, protecting strategic partnerships, and fostering a favorable business environment that benefits both the state and investors. Madbouly expressed confidence that this milestone would lead to increased investments, new discoveries, and development projects aimed at enhancing energy security while maximizing the use of Egypt’s natural resources for future generations.

The Prime Minister noted that the Ministry of Petroleum has confirmed that all dues to oil and gas investment partners have been settled, reducing them from approximately $6.1 billion in June 2024 to zero dollars now. This marks a significant turning point for Egypt’s oil and gas sector as it opens a new chapter focused on investment, growth, and production.

Additionally, Madbouly mentioned recent agreements signed for investment in wind power at Jebel El-Zeit on the Red Sea coast with a capacity of 580 megawatts. This initiative aligns with state ownership policies aimed at optimizing resource management while enhancing private sector involvement in renewable energy projects under the national energy strategy.

The financial return from this project is estimated at around $420 million, which will contribute to reducing public debt. The project also includes other benefits such as land usage fees paid by investors who are committed to improving project efficiency.

On another note, Madbouly highlighted ongoing efforts to encourage factories and households to install solar panels as part of a wider initiative aimed at promoting renewable energy sources. He expressed satisfaction with recent visits where he observed a growing interest among factory managers in adopting solar energy solutions due to their cost-saving potential.

Economically, Madbouly reviewed positive indicators during this period, noting an increase in tourism revenues from July 2025 to March 2026 amounting to approximately $14.4 billion compared to $12.5 billion during the same period last year. He also reported significant growth in remittances from Egyptians abroad reaching about $34.9 billion compared to $26.4 billion previously.

The annual inflation rate has notably decreased to 13% in May 2026 after peaking at 3.3% in March 2026, signaling a slowdown in inflationary pressures with monthly rates falling as well.

<pMadbouly emphasized that wheat supply from farmers has reached an unprecedented figure of 4.6 million tons this year compared to last year's total of around 4 million tons. He thanked relevant ministers for their roles in ensuring timely payments to farmers which encouraged them to achieve these historic supply levels.

Lastly, he addressed progress under the presidential initiative “Decent Life,” aimed at developing rural communities across Egypt. He stressed the importance of overcoming challenges faced during project implementation while expediting completion processes so services can be delivered promptly in targeted villages.