PM Madbouly noted that the government focus on boosting oil and gas production by exploring new sites with significant petroleum potential.

He directed the Minister of Petroleum and Mineral Resources Karim Badawi to propose these sites and arrange direct agreements with major international companies that have identified promising areas for exploration.

In coordination with the House of Representatives, Madbouly introduced a benchmark price for sugarcane and sugar beet, essential crops for the sugar industry.

The base prices are set at EGP 2,500 for sugarcane and EGP 2,400 for sugar beet, with additional incentives to encourage farmers to provide these crops at competitive prices.

Discussions are ongoing to streamline payment mechanisms to ensure timely disbursement to farmers, similar to practices in the private sector.

The government aims to encourage essential crop cultivation, support the national industry, and meet Egypt's needs.

Madbouly also addressed sugar consumption in Egypt, acknowledging discussions led by the Minister of Health and Population about the high levels of sugar intake and its impact on public health, stressing the importance of this issue to protect the nation's health.

Regarding inflation and price control, Madbouly explained that recent vegetable price increases are due to the "crop gap," a transitional period between planting seasons.

The government monitors the situation closely, aiming to preserve prices and avoid shortages of goods.

The Committee for Market Regulation and Commodity Prices will soon expand its focus to include additional commodities beyond the strategic ones.

Madbouly also acknowledged the potential impact of escalating geopolitical tensions in the region.

The government is preparing for various scenarios, including potential increases in oil prices and capital outflows, by securing strategic reserves of key commodities, like sugar, wheat, and oil, sufficient for over six months.

Finally, Madbouly discussed the transition from in-kind subsidies to cash subsidies, confirming that the issue is under review by the Board of Trustees of the National Dialogue.