President Sisi: Egypt works on filling gap between revenues and expenses

CAIRO- 30 September 2023: Commenting on economic reviews presented by Egyptian Ministers of International Cooperation and Trade, President Abdel Fattah El Sisi said the the country works on filling the gap between revenues and expenses by supporting the industrial sector.

He added that the Egyptian state has prepared the infrastructure to increase investment opportunities, noting that supporting the industrial sector and providing local products reduce pressure on the demand of dollars.

“ Egypt is working to provide incentives to encourage the success of investors. The Egyptian state provides huge financial facilities to investors such as tax exemption and support for export programs,” the President said.

“We need to exert more efforts to encourage Egyptian and foreign investors to increase the volume of investment in a number of sectors,” he added.

President Sisi’s remarks were given on the first day of a three-day conference titled “Story of A Homeland” that sheds light on the Egyptian state’s achievements over the past decade.

He also stressed that nations cannot move forward without security and stability. “A nation cannot move forward without stability and security … Whoever says otherwise is either ignorant or foolish,” Sisi stated during the conference.

The president highlighted the period of turbulence and instability between the 25th of January Revolution 2011 and the 30th of June Revolution 2013, saying it “depleted” the state.

Sisi has not officially announced plans to run for reelection to date. However, tens of political parties and unions have announced support to his potential candidacy, including the parliamentary majority party Mostaqbal Watan.

President Sisi’ current tenure is scheduled to end on April 1, 2024, and the presidential race has started when the National Election Authority invited eligible voters to cast their votes on December 10, 11, and 12 domestically.