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Egypt President denies that his government has created the economic crisis

January 24, 2023 at 2:14 pm

Egyptian President Abdel Fattah el-Sisi gives a speech in Cairo, Egypt. [Photo by Mikhail Svetlov/Getty Images]

The Egyptian President has rejected criticism that his government has created the economic crisis in the country and, instead, blamed the Russian war and the coronavirus pandemic.

At a ceremony marking Police Day, Abdel Fattah Al-Sisi told citizens that the government would continue to support them in the face of soaring food prices and that the infrastructure projects being built across Egypt are essential for the country’s economic development.

“The mega development projects undertaken by the State are not for show or for bragging,” Sisi said in comments that were reported in The National.

“They laid the foundation for a suitable investment environment and it takes essential infrastructure to achieve that, along with comprehensive economic development that lifts the standard of living for everyone.”

“It is impossible, and that is not debatable, for us to make progress in modern industries and have massive exports without the necessary tools to achieve that.”

READ: Egypt soaring prices drive home economic pain

Accelerating inflation and a currency crisis have sent the economy spiralling and prices soaring for ordinary citizens.

Even the country’s middle class has been pushed to the brink of poverty, according to a recent Reuters report.

Critics have lashed out at the government’s multi-billion infrastructure projects, labelling them “vanity projects” that are unnecessary in the current crisis, in particular the New Administrative Capital, which cost Egypt $45 billion.

The apartments available in the new capital will be way beyond the price range of most Egyptians.

Sisi has a habit of making ridiculous suggestions to save the economy, including recently suggesting that poorer households eat chicken feet, which are rich in protein.

Earlier this month, the President warned Egyptians to only believe what the government says about the country’s economic crisis and that ordinary interpretations cause “confusion” and “alarm.”

He has also suggested citizens eat tree leaves and lose weight to save money.

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