Amidst global economic crises, Egyptian President Abdel Fattah al-Sisi reassured his people on Tuesday, saying: “The global crisis is unprecedented and has severe repercussions on the whole world, but I assure you that we are fine and our needs are present, not for a day or a month, but for more time.”
“Is there anyone of our citizens who went to a place to buy something, and didn’t find it? And if some talk about increasing prices, we acknowledge that, and the state is trying and interfering until the end of this year to control matters and restore health (of economy),” he said.
The president added that “The crisis is very big and its repercussions on tens and hundreds of countries, and Egypt is among the affected countries, but there is a difference between suffering and a major crisis, and we are now in the stage of suffering in Egypt, and all efforts are being made to alleviate this suffering.”
Sisi continued: “I have assigned the government to provide all requirements for industry and production, and I always do not tell citizens to stop buying a certain commodity or limiting a certain amount, such as large European countries that limit the individual’s access to one bottle of oil, for example, but the citizen is absolutely free to buy.”
“Goods are available, but their price may increase somewhat, and we are trying not to affect those who are unable to be affected by the increase in prices, ” he added.
Egyptian Finance Minister Mohamed Maait said on Tuesday that the state’s general budget deficit is under control.
He also pointed out that some may see that the indicators of the state’s draft general budget for the fiscal year 2022/2023 are optimistic or difficult to achieve but that reality confirms the success of the Egyptian financial policy in controlling the ratio of the total deficit to the gross domestic product.
He added that the gross domestic product has been witnessing huge increases over recent years.