2023-08-20 03:03:37
Dubai, United Arab Emirates (CNN) – Activists circulated on social media the statements of the Egyptian President, Abdel Fattah El-Sisi, in which he addressed the causes of the economic crisis and the rise in prices in Egypt, during an inspection tour of the Egyptian Military Academy, on Saturday, during which he spoke with the students of the academy.
Al-Sisi said in a video posted by the Presidency of the Republic on his account on the Facebook platform: “It is important that I assure you of our situation, that we will never stop working, we are in continuous work on every inch of Egypt’s lands, and the crisis that all people are worried about and worried about, we are back in crises.” There are too many in Egypt, and we overcame them with effort and perseverance, and the current crisis we are suffering from, we were not the cause of it,” referring to the Covid-19 virus, the Russian-Ukrainian crisis and their impact on prices.
Al-Sisi added: “We say that despite this great crisis and despite the high prices of basic commodities, even with the effort that we are making, within a few months we will be putting on the map of Egypt a very huge amount of agricultural land in the New Delta, and in Toshka, East Owainat and Sinai, which are more than 3 Millions of acres, with the Egyptian countryside, which is unprecedented work, effort and land size in a not very large period of time.
And Al-Sisi added, “Will we still need to import cooking oil, wheat and corn in large quantities? He replied: (Yes), because we consume about 20 million tons of wheat per year, and we import large quantities of it that may reach half of our consumption, which explains the increase Prices are upon us, and we import more than 90% of our edible oil needs, which requires saving large amounts of free currency (dollars), and we sell it to people in Egyptian pounds.”
He explained, “The circumstances that the world is going through and us and we are affected by them, but we do not stop, just as there is no crisis in those foodstuffs, because we are always ready to have a reserve sufficient for between 5-6 months of all these commodities in full to face any circumstance.”
Al-Sisi spoke about the fuel crisis, saying: “As for fuel, there are 10 million cars moving every day. We need to provide them with fuel and import a large part of it from abroad.”
Regarding the electricity crisis and the power outages that Egyptians suffer from during the summer months, Sisi explained: “We need 18,000 tons of diesel per day to operate the stations at full capacity to provide electricity during the hot days, which means more than half a million tons of diesel per month. Between 300-350 million dollars, this is different from the gas that we have production from, and it provides a large part of our natural gas needs, and if it were not for it, we would be in a major crisis.
Al-Sisi concluded by saying, “I would like to reassure you that the prices of commodities may be high, and this is something that we appreciate, and the government is currently working on a set of measures through which to mitigate the effects of this crisis.”
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