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Sisi: Economic Reforms are No ’Picnic’

Sisi: Economic Reforms are No ’Picnic’
folder_openEgypt access_time2 years ago
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Local Editor

The Egyptian president Abdel-Fattah al-Sisi is defending the tough economic measures his government has undertaken, saying there was no other alternative in the face of deteriorating economy.

Sisi: Economic Reforms are No ’Picnic’

Al-Sisi said that "structural reforms" are an imperative for Egypt and that the measures that have been implemented are no "picnic."

Sisi spoke Thursday to a gathering of clerics ahead of a major Islamic holiday.

Sisi's remarks were his first since the government's unprecedented flotation of the Egyptian pound last month, meant to ensure that Egypt qualifies for a 12 billion dollar loan from the International Monetary Fund [IMF].

Elected in 2014, Sisi depended on billions of dollars of assistance from Gulf countries such as Saudi Arabia but relations with the Sunni kingdom have become strained recently over regional crises, including the conflict in Syria.

Source: News Agencies, Edited by website team