EGYPT IMPOSES 9PM CLOSURE ON BUSINESSES AS ENERGY COSTS SOAR AMID IRAN WAR

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Agency Report

The Egypt government has ordered shops, restaurants, and shopping malls to close from 9:00 pm starting Saturday, as authorities move to curb surging energy costs triggered by the ongoing conflict involving Iran.

Prime Minister Mostafa Madbouly announced the directive, stating that the measure will initially last for one month. Under the new rules, businesses will close at 9:00 pm on weekdays, while extended hours until 10:00 pm will apply on Thursdays and Fridays.

Madbouly revealed that Egypt’s monthly energy bill has risen sharply from $560 million to $1.65 billion for the same consumption level, underscoring the economic strain caused by the crisis. He noted that the government must prepare for the “worst-case scenario” amid uncertainty surrounding the conflict.

Despite the restrictions, Tourism Minister Sherif Fathy assured that the measures would not affect tourists or key destinations, in a bid to protect the country’s vital tourism sector.

Earlier in March, Cairo increased fuel prices by over 30 percent following attacks on regional oil infrastructure and threats to the Strait of Hormuz, a critical global energy corridor through which about a fifth of the world’s crude oil and liquefied natural gas typically passes.

The disruption has also impacted shipping routes, with vessels being diverted away from the Suez Canal, depriving Egypt of a key source of foreign exchange earnings.

Authorities say the temporary restrictions are necessary to manage rising costs and stabilise the economy as global energy markets remain volatile.