Egyptian Prime Minister Mostafa Madbouly warned that the ongoing military escalation in the Middle East could have serious economic consequences, urging all parties to recognize the risks posed by the current situation.
Speaking during the government’s weekly meeting at the New Administrative Capital, Madbouly said recent days have witnessed a continued rise in military tensions across the region, with potential repercussions for the Middle East and the global economy.
He reiterated Egypt’s position that all sides must exercise restraint, reduce tensions, and prioritize dialogue and diplomatic solutions to resolve the crisis.
Madbouly stressed that Egypt will continue coordinating with regional and international partners to contain the escalation and push for peaceful settlements, in order to spare the region further instability and safeguard the future of its peoples.
The prime minister also highlighted the serious economic implications of the conflict, noting that the escalation is affecting energy security, global supply chains, international trade flows, and the cost of living for citizens worldwide.
He pointed to President Abdel Fattah El-Sisi’s recent discussions and communications with world leaders, as well as his participation via video conference in an emergency meeting convened by the European Union on regional developments. During that meeting, El-Sisi stressed the importance of resolving conflicts through peaceful means as the most effective path toward stability and security.
Madbouly added that Egypt has established a central crisis management committee to monitor the regional escalation and assess its potential impact on the country. The committee will hold regular meetings to review developments, particularly the US-Israeli military operations in Iran and their broader regional consequences.
The government has also reviewed contingency plans prepared by various ministries to deal with possible economic and market impacts, approving a set of measures aimed at rationalizing government spending and consumption.
As part of these efforts, Madbouly conducted an inspection tour earlier this week in Suez Governorate, where he visited the SUMED petroleum port in Ain Sokhna as well as facilities for the handling and storage of petroleum products and liquefied natural gas.
He said the visit aimed to ensure the readiness of infrastructure for receiving and processing LNG shipments through regasification vessels at the port before pumping the gas into the national grid to support domestic supply.
Madbouly also inspected the Ataqa grain silo in Suez, which has a storage capacity of 60,000 tons and forms part of Egypt’s national silo project, emphasizing the government’s focus on strengthening food security amid fast-changing regional developments.
He stressed that authorities are closely monitoring the situation around the clock to ensure the continued availability of essential commodities, food supplies, and petroleum products.
The prime minister also ordered intensified market monitoring to prevent price manipulation or hoarding of goods during the crisis, warning that any violations or attempts to exploit the situation for illegal profits will be referred to the military prosecution.
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