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Sisi: Egypt Overcame Economic Disaster in 2016

Sisi: Egypt Overcame Economic Disaster in 2016

Wednesday, 4 December, 2019 - 12:15
Egyptian President Abdel Fattah al-Sisi. (AFP)

Egypt has overcome a “disastrous” economic crisis in 2016, but the situation is now better and will further improve, announced Egyptian President Abdel Fattah al-Sisi.


He praised the efforts and patience of the people amid the dire economic conditions in the country which, he asserted, “will get better.”


Speaking at the inauguration of several projects in Damietta it the presence of governor Manal Awad, Sisi said the electricity sector has improved in the country, noting that Egypt produced in the past five years more power than it did in the past 50-60 years.


“There is no challenge that poses a danger to Egypt unless it comes from within the country,” said Sisi, adding: “When people act, they are capable of destroying their countries.”


The President asserted that he will keep repeating his warnings until the country is immune against any attempts to destroy it.


For her part, Awad said the new Damietta city was established at a cost of LE2.7 billion, while utilities are estimated at LE925 million, bringing the total cost to LE 3.6 billion.


Sisi also opened two petrochemical production lines with a total cost of LE34 billion and inaugurated the construction of a multi-purpose plant at the governorate port at a cost of LE1.3 billion.


The chairman of Damietta Port Authority, Captain Walid Awad, said that the port is the first in the Middle East and Africa to introduce the system of supplying docked ships with electricity.


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