Prime Minister Mostafa Madbouly chaired a government meeting on the evening of Sunday, March 8, 2026, at the cabinet headquarters in the New Capital to follow up on the repercussions of US and Israeli military operations against Iran and Tehran’s attacks on Gulf states, as well as their potential impact on global supply chains and international markets.
The meeting was attended by Deputy Prime Minister for Economic Affairs Hussein Issa, Central Bank Governor Hassan Abdalla, Minister of Electricity and Renewable Energy Mahmoud Esmat, Finance Minister Ahmed Kouchouk, Minister of Tourism and Antiquities Sherif Fathy, Minister of Supply and Internal Trade Sherif Farouk, Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty, Minister of Petroleum and Mineral Resources Karim Badawi, Minister of Investment and Foreign Trade Mohamed Farid, Minister of State for Media Diaa Rashwan, and Minister of Planning and Economic Development Ahmed Rostom.
Cabinet Spokesman Mohamed El-Homosany said the meeting of the government’s “crisis group” aims to ensure continuous monitoring of rapidly evolving regional and international developments and to assess the repercussions of the military escalation in the region, particularly its impact on global trade and supply chains.
He added that the meeting reviewed the latest developments related to military operations against Iran and the recent escalation in the region, including Tehran’s targeting of several Gulf states, as well as the potential effects on global energy markets, especially oil and gas prices.
Homosany noted that ministers and relevant authorities presented updated scenarios prepared to address the possible repercussions of these developments as part of efforts to prepare for any potential impact on the domestic market.
Madbouly directed continued full coordination among all relevant bodies and the updating of response plans to address any new developments in a way that ensures the stability of local markets and secures the country’s needs of strategic commodities and production inputs.
The meeting also reviewed the current political situation of the crisis and ongoing international and regional efforts aimed at containing the escalation and reaching a political settlement that could help end the conflict and limit its impact on regional stability and the global economy.
Homosany added that the government will continue closely monitoring developments and take necessary measures to address any scenarios related to the crisis in a way that safeguards the stability of the Egyptian economy and strengthens its ability to withstand external challenges.
PM chairs crisis meeting on regional escalation, global supply chains Egypt Independent.
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