Business monthly (Egypt) - - THE YEAR AHEAD -

2013, Egyp­tians be­came ac­quainted with al­most daily sum­mer black­outs, hours-long gas sta­tion lines and a prime min- is­ter who ad­vised cit­i­zens to cope with this mis­er­able, sweaty state of af­fairs by wear­ing cot­ton un­der­wear. Pres­i­dent Mo­hamed Morsi’s re­moval from of­fice that same July did not ex­actly come as a sur­prise. This les­son was not lost on Morsi’s suc­ces­sor, Ab­del Fat­tah el-Sisi. The cur­rent ad­min­is­tra­tion has made sure that by the sum­mer of 2015, the lights and air con­di­tion­ers mostly stayed on. The eco­nomic cost was steep, how­ever, with the gov­ern­ment forced to di­vert nat­u­ral gas from fac­to­ries, which in turn had to dras­ti­cally cut pro­duc­tion or shut down al­to­gether at a time when Egypt des­per­ately needed to bol­ster its in­dus­try. “Some fac­to­ries stayed closed for four out of the first six months of the year,” says Mo­hamed Hanafy of the Fed­er­a­tion of Egyp­tian In­dus­tries.

As ma­jor cor­po­ra­tions and or­di­nary Egyp­tians alike know all too well, the en­ergy cri­sis has been per­haps the big­gest sin­gle prob­lem be­dev­il­ing the coun­try’s eco­nomic re­cov­ery since 2011. Years in the making, Egypt’s power short­age is the re­sult of many fac­tors, but one of the big­gest is

Newspapers in English

Newspapers from Egypt

© PressReader. All rights reserved.