El-Sisi to maximize Egypt's economic efficiency after reelection

By Al Mayadeen English
Source: Agencies
2 Apr 2024 17:22

In a keynote address, El-Sisi laid out the aims of his new six-year term, promising to "adopt strategies that maximize Egypt's economic capabilities and resources."

Egypt’s President Abdel Fattah el-Sisi in Cairo on October 18, 2023. (AFP)

Egyptian President Abdel Fattah el-Sisi promised on Tuesday to boost the country's economic effectiveness and adaptability after winning a third term in power.

El-Sisi, 69, was sworn in as president on Tuesday, following a landslide victory in the December election, when he received over 90% of the vote.

In a keynote address, El-Sisi laid out the aims of his new six-year term, promising to "adopt strategies that maximize Egypt's economic capabilities and resources, and enhance the solidity and resilience of the Egyptian economy in the face of crises."

The president also stated that he would seek "sustainable and balanced" economic growth, supported by a larger private sector, as well as increased contributions from agriculture, industry, technology, and tourism.

He went on to say that this is additional to expanding agriculture to attain food security for the country "attracting more local and foreign investments to generate millions of sustainable jobs, while giving priority to local manufacturing programs to increase exports and Egypt’s foreign exchange earnings."

Egypt will also strive to become a regional hub for transport and transit commerce, including increasing the economic importance of the Suez Canal, he speculated.

El-Sisi stated that his administration will attempt to enhance national discussion to increase political and democratic participation, particularly among young people. He also vowed to preserve Egypt's national security and to establish balanced ties with everyone involved as a "new world in the making."

Egypt, EU to establish strategic partnership as war on Gaza rages

Egypt and the European Union are developing relations to a strategic and comprehensive partnership, Egyptian President Abdel Fattah El-Sisi's office revealed, announcing the signing of a formal declaration on March 17.

This comes after EU Commissioner Ursula von der Leyen's visit to El-Sisi.

In a statement, the Egyptian president's office said both officials "discussed several bilateral cooperation files, including the expected signing of the joint political declaration document to elevate relations between Egypt and the European Union to the level of 'strategic and comprehensive partnership.'"

Talks also included discussions on the regional situation, with Egypt urging the establishment of a ceasefire in Gaza amid "Israel's" brutal genocide.