Egypt's Sisi starts third term pledging more investment, social spending

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Egyptian President Abdel Fattah al-Sisi was sworn in for his third term on Tuesday in the country's new capital, the largest of the mega-projects that have come to symbolise his rule while stretching the country's finances.

Item 1 of 7 Egyptian President Abdel Fattah al-Sisi speaks during his swearing for his third term in a ceremony at the new Egyptian Parliament building in the New Administrative Capital in the east of Cairo, Egypt April 2, 2024. The Egyptian Presidency/Handout via REUTERSEgyptian President Abdel Fattah al-Sisi speaks during his swearing for his third term in a ceremony at the new Egyptian Parliament building in the New Administrative Capital in the east of Cairo, Egypt April 2, 2024.

As the war raged in neighbouring Gaza his message of stability and security resonated with some voters, but many, preoccupied with economic hardships, expressed indifference about the election, saying the result was a foregone conclusion. In his speech, Sisi promised increased spending on programmes targeting the poor and engaging the private sector in line with commitments that helped secure last month's expanded

Critics blame such projects for contributing to Egypt's economic woes, saying they divert resources away from more urgent needs and increase Egypt's debt burden. "We strongly demand transparency and frankness with the great Egyptian people... who are struggling under debt, poverty, human rights deteriorating record," Tantawy told Reuters.

 

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