New Egyptian cabinet sworn in amid economic, regional challenges
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Prime Minister Mostafa Madbouly's new cabinet witnesses new finance and foreign ministers.
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In this photo provided by Egypt's presidency media office, Egyptian President Abdel-Fattah el-Sisi, center, poses with Egypt's new cabinet, led by Prime Minister Mostafa Madbouly, fourth left, at Al-Ittihadiya Palace in Cairo, Egypt, Wednesday, July 3, 2024. (Egyptian Presidency Media Office via AP)
Egypt’s new cabinet members took their oath before President Abdel Fattah el-Sisi in the presidential palace on Wednesday amid the country’s deteriorating economy and an Israeli war on the neighboring Gaza Strip.
The new cabinet, which consists of four women and several technocrats, underwent significant changes by replacing ministers in multiple sectors, primarily the defense and economy departments. The cabinet continues to be headed by Prime Minister Mostafa Madbouly, who has assumed office since 2018.
The changes stem from Egyptian citizens' years of discontent with the country's economic mismanagement, the outcomes of the COVID-19 pandemic and the war in Ukraine, and the latest Israeli war on the Gaza Strip.
According to official figures, approximately 30% of Egypt's 106 million population lives in poverty as a result of the hyperinflation of prices amid a Western-backed reform program backed by el-Sisi. The government attempted to combat hyperinflation and attract foreign investment by increasing the main interest rate. Currently, the country's commercial banks are exchanging one US dollar for 47 pounds.
Meet the new cabinet
Former World Bank economist and Deputy Finance Minister Ahmed Kouchouk replaced Mohamed Maait as finance minister. Kouchouk played a vital role in the implementation of a reform program with the International Monetary Fund (IMF).
Ahmed Issa was replaced by Sherif Fathy, a former civil aviation minister, as the cabinet’s new Tourism and Antiquities Minister. He will be tasked with attempting to revive Egypt’s tourism industry to boost revenues.
An additional issue Egypt faces is the consistent power outages during the hot summer. Mahmoud Esmat has been appointed as the new cabinet’s minister of electricity.
Moreover, Badr Abdelatty replaced Sameh Shoukry as Foreign and Migration minister, while Gen. Abdel-Majeed Sakr replaced Gen. Mohamed Zaki in the defense portfolio.
