The president, in office since 2014 and winner of last December's elections with almost 90%, took the oath at the inauguration of his third and final term at the head of the African country. Al-Sisi stated that the objective in the next six years will be to carry out the nation's economic recovery. Finances and influence in regional conflicts will be the challenges of a territory considered by the West as an essential actor for the stability of the area.
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After the citizens re-elected him as head of state in December of last year with 89.6% of the votes, Abdelfattah al-Sisi assumed his third term at the head of Egypt, which will last until 2030 and will be his last. unless there is a new constitutional reform like the one that occurred in 2019.
The ceremony took place in the New Administrative Capital, a megaproject promoted by the Government to decongest Cairo and which was built to the east of the old capital, with an initial cost of 50 billion dollars.
In his speech, al-Sisi stressed that, after a long period of challenges, both financial and the consequences of the conflicts in Sudan, Libya and the Gaza Strip, the time has come for continued development.
“The last few years have shown that the path of nation-building is not paved with roses, between terrorist attempts at home, sudden global crises abroad and ferocious wars around us,” the president said in front of legislators and officials. military and religious.
Al-Sisi assured that there will be greater disbursement in expenses for assistance programs for the poor and that they will involve the private sector. The latter was one of the items that made up the agreement with the International Monetary Fund last month, in which the financial body agreed to disburse another five billion dollars to the three that it had already lent.
In addition, he promised investments in different sectors, such as energy (weeks ago he signed an agreement with the European Union in this regard), a rationalization of public spending and the construction of new cities.
According to Ahmed Tantawy, former presidential candidate and left-wing opposition legislator, the speech was a classic one of making promises without real solutions. Speaking to Reuters, he demanded “firmly transparency and candor with the great Egyptian people, who are struggling under debt, poverty and deteriorating human rights.”
Regarding the latter, human rights groups estimate that thousands of civilians, including liberal and Islamist activists, have been imprisoned since al-Sisi came to power.
The economic crisis, the other side of Egyptian megaprojects
With inflation exceeding 30%, civilians in the African country face a difficult situation on a daily basis. With a devalued currency and prices that are constantly rising, the economic context represents the other side of Al-Sisi's government.
The construction of the New Administrative Capital (NAC) megaproject, which cost more than 50 billion, sparked criticism. The current administration faced a series of ambitious and expensive projects.
From the Executive, they justified it by claiming that it was necessary for economic development. The NAC, built east of Cairo in a desert the size of Singapore, covers 110,000 square meters and will be the new Government House and Parliament.
However, it was not the only work that was carried out and that generated criticism. Extensive road construction, new cities and an expansion of the Suez Canal were also objectives specified by the Government.
Regarding the Suez Canal, the intention was to increase imports and exports. Even at the beginning it gave positive dividends; but the attack by the Houthi rebels in the Red Sea caused a pronounced decrease.
Critics point out that these expenses divert resources for more urgent needs and increase the debt that falls on the country. The purchase of French aircraft and weapons to confront the jihadist insurrection in the Sinai was also seen askance.
To combat inflation and increase the level of reserves in the Central Bank, Egypt sought foreign capital. To the 5,000 million issued by the IMF, 7,500 are added from an agreement with the European Union for energy development and 35,000 from the kingdom of the United Arab Emirates to exploit the lands of Ras Al-Hikma, in the south of the country.
Egypt's strategic location has cleansed its image for violating human rights and persecuting Western opponents. His importance in mediation with Israel and access to the Gaza Strip positioned him as an essential member of seeking lasting peace and allowing humanitarian aid access to the enclave.
Its global position also rose as it was an escape route for around 300,000 refugees from Sudan, where the civil war between the Army and the paramilitary group 'Rapid Support Forces' displaced millions and deepened the low standard of living of its residents. citizens, some in danger of famine.
With EFE and Reuters
