Egypt president defends austerity measures
CAIRO – Egypt’s President Abdel-Fatah el-Sissi has defended his govt’s newest austerity measures aimed toward rebuilding the rustic’s ill financial system, amid a wave of arrests since his re-election.
The federal government has raised the cost of electrical energy and piped ingesting water as a part of an financial reform program designed to qualify for a three-year $12 billion bailout mortgage from the World Financial Fund, which Egypt secured in 2016.
El-Sissi mentioned overdue Tuesday in televised feedback that the federal government spends a complete subsidy invoice of 330 billion Egyptian kilos, $18.6 billion, once a year.
He mentioned: “We need to pay the associated fee in combination.”
The cruel austerity measures have hit deficient and middle-class Egyptians particularly arduous.
Egypt has intensified its crackdown on dissent since el-Sissi’s re-election within the March vote by which he confronted no severe challengers.