CAIRO – 21 December 2024: President Abdel Fattah El-Sisi has emphasized the impact of uncontrolled population growth on the state’s ability to provide services properly as he conducted an inspection visit to the Police Academy on Saturday.
In statements he made during the visit, Sisi stated that Egypt needs $1-2 trillion in annual expenditure, which means that the state needs at least LE 50 trillion to spend on education, health, defense, investments and other fields.
Meanwhile, the state’s budget presently does not exceed LE 3 trillion, Sisi said, noting that half of this amount is paid off for banks to cover internal debt.
NEW CAPITAL
Sisi spoke about state’s spending on major establishments in the New Administrative Capital, including the government district, saying they have been covered by the Administrative Capital for Urban Development Company.
He added that the company, which had no funds when it was established, presently has LE 80 billion. The president said the company established the Arts and Culture City, Misr Mosque, the Cathedral of the Nativity, the Presidency and other establishments.
“The [Administrative] Capital company leases all the facilities to the government for LE 7-10 billion from the government annually,” Sisi said.
He added that real estate developers also owe the company money through lands sold by the company in the capital that could reach LE 150-160 billion.
RUMORS, LIES
The president warned against “a myriad of rumors and lies” tarheting the state’s development plans.
“Opponents are entitled to try to destroy our country and we must prepare to thwart them,” Sisi said. “Don't you think that this is an internal matter. This work is done by intelligence agencies.”
Sisi addressed Egyptians, urging them to preserve their country and to not choose to destroy it, noting that “if [the state’s] growth rates continue for 10-15 years, [the nation] will be unrecognizably transformed, under another president.”
EDUCATION
The president spoke about progress in education over the past years, including the state’s establishment of the government non-profit universities to alleviate the pressure on public universities.
Sisi said the new government non-profit universities, like Galala University and King Salman International University, helps saving foreign currency and ensures the wellbeing of students by sparing them the need to travel abroad for education.
He urged Egyptians to focus on learning future-proof subjects, including mathematics, physics, sciences, and computer science.
Sisi noted that Egypt needs to establish 60,000 classrooms per year with a huge cost.
The president stated that the country needs LE 15 trillion annually for proper education alone.
INDUSTRY, TRADE
Sisi has emphasized the importance of industrial development and trade in Egypt, highlighting plans to elevate the industrial sector by intensifying efforts across various fields.
“We must work diligently and dream big in industry,” Sisi said, affirming that this does not mean neglecting sectors like education and healthcare.
“The state is striving to enhance every aspect, including industry, agriculture, and all fields of work in Egypt,” he stressed.
Regarding trade, Sisi mentioned advancements in Egypt's port infrastructure to leverage the strategic location of the Suez Canal in global trade.
He noted the establishment of new ports along the Mediterranean and Red Seas, as well as improvements to existing facilities.
Sisi underscored the importance of the efforts made by the Egyptian Authority for Unified Procurement to support essential goods and save foreign currency spending.
“Egypt values every dollar, and the unified procurement authority aids in securing basic commodities,” Sisi said.
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