Sisi’s electoral campaign: Economic reform ongoing with a vision to localize industry, reduce reliance on debt

CAIRO – 6 December 2023: The electoral campaign of the current president and presidential candidate, Abdel Fattah El-Sisi, said the process of economic reform will continue in case Sisi was re-elected.

Mahmoud Fawzy, head of the campaign, said in TV remarks that the vision of Sisi is based on localizing industry, attracting further investment, and reducing reliance on debt mechanisms.

Countries are prone to challenges and the political leadership is doing its best to improve people’s lives, he said, noting that the state is ready for a strong economic start amid the political will to develop people’s lives.

Many countries experienced similar economic circumstances and managed to overcome them by boosting production, he said.

Fawzy said that while prices of commodities and other goods have soared, salaries were also boosted and the state has taken measures to socially protect the vulnerable citizens.

Regarding public debt, Fawzy said Egypt has never and will never fail to pay its financial obligations. He mentioned reducing imports by relying on manufacturing and agriculture as means to help the state reduce borrowing.

Fawzy asserted that the hardest part of the economic path has been completed and that the fruits of the established infrastructure will be reaped in the coming period.

All indicators point to a significant economic improvement, Fawzy stated.

During Sisi’s tenure, unemployment dropped from 13% to 7% and road quality rose to the 28th position globally, Fawzy said.

Moreover, populated areas across Egypt have doubled since 2014 to reach 14% with energy plants, ports, airports, and broad technology infrastructure located all over the country.

Fawzy shed light on plans to empower the private sector during the coming period, noting that the state had to fill the void of the private sector in the past as the country was in an exceptional stage.

Geared up for elections

Egypt is geared up for holding the 2024 Presidential Elections for citizens in the country from Sunday 10 December until Tuesday 12 December a few days after the three-day voting process for Egyptians abroad was concluded.

The marathon is held between four contenders, including incumbent President Abdel Fattah El Sisi, President of the Egyptian Social Democratic Party Farid Zahran, President of Al Wafd Party Abdel-Sanad Yamama, and President of the Republican People's Party Hazem Omar.

The four candidates have released their vision to improve people’s lives in the coming six-year presidential term.

The final result will be announced on December 18 if no run-off is required. Voting inside the country will take place from 10-12 December.