US-Iran War: Egypt's Restaurants, Malls To Partially Close Amid Energy Woes - Will It Impact Tourists?

(MENAFN- Live Mint) Egypt reportedly ordered shops, restaurants and shopping malls to close from 9:00 pm from Saturday, hoping to curb energy bills that have more than doubled because of the Iran war. Egypt Prime Minister Mostafa Madbouly announced the curfew and said it would last for a month initially.

"Shops, shopping centres, restaurants and cafes will all close at 9:00 pm on weekdays," he was quoted by AFP as saying, adding that on Thursdays and Fridays at the weekend they will be allowed to stay open until 10:00 pm.

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Madbouly reportedly said that before the war in the Middle-East, Egypt's monthly energy bill was $560 million. Today, for the same quantity, he said Egypt is paying $1.650 billion.

Madbouly said Cairo must work on the "worst-case scenario" in the face of a war whose outcome is unpredictable.

Will it affect tourists?

Tourism Minister Sherif Fathy said the new restrictions "will not affect tourists" or flagship destinations, a statement from his office said.

At the beginning of March, Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz, the crucial shipping route now virtually paralysed by the war.

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Around a fifth of global crude oil and liquefied natural gas passes through the waterway in peacetime.

The rerouting of shipping away from the Suez Cana is also depriving Cairo of a vital source of foreign currency.

(With inputs from AFP)

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