Egypt has sharply boosted allocations for its electricity sector in the 2026-2027 budget, which will start on 1 July, according to Egypt’s finance minister.

Ahmed Kouchouk said the budget includes an allocation of 104 billion Egyptian pounds ($2 billion) to support the sector, representing a 39 percent annual increase.

This funding aims to bolster this vital sector, address existing challenges, and ensure reliable and consistent service, Kouchouk told local reporters on Saturday.

He noted that the allocated funds will be used to provide additional resources for improving the infrastructure of electricity transmission and distribution networks.

He added that the budget targets an average oil price of $75 per barrel, the same as the current fiscal year's average.

The minister affirmed that the coming period will witness a significant improvement in debt levels, servicing costs, and maturity dates. He revealed a comprehensive debt management strategy being implemented by all state entities.

(Writiing by N Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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