Egypt's Sisi Backs National Projects, Rejects Claims Economic Crisis Caused by Domestic Policies

Egyptian President Abdel Fattah al-Sisi. (Egyptian presidency)
Egyptian President Abdel Fattah al-Sisi. (Egyptian presidency)
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Egypt's Sisi Backs National Projects, Rejects Claims Economic Crisis Caused by Domestic Policies

Egyptian President Abdel Fattah al-Sisi. (Egyptian presidency)
Egyptian President Abdel Fattah al-Sisi. (Egyptian presidency)

Egyptian President Abdel Fattah al-Sisi rejected "misleading claims" that said the global economic crisis was only limited to Egypt and caused by domestic policies.

He also defended national projects, saying they were the basis for achieving comprehensive economic development and expressed his confidence in Egypt's ability to overcome the crisis.

Sisi was speaking at a ceremony marking 71st Police Day at the Police Academy Conference Complex.

He said the world is witnessing a "harsh and unprecedented economic crisis" not seen since the Great Depression and the two world wars.

The repercussions of the current crisis resulted in what is now known internationally as the global cost of living situation, he remarked, adding that the government aimed to mitigate the impact of the crisis.

Sisi acknowledged that the impact of the crisis is significant and burdened the citizens, especially low-income groups who struggle daily to meet their needs.

He asserted the state's commitment to supporting the people.

The government is working on providing for their families' needs in ways that help them confront price hikes.

"The state remains steadfast in its commitment to help these people in a way that does not and will not change," Sisi vowed.

Egypt, like other countries in the world, is facing an economic crisis due to the consequences of the Russian-Ukrainian war. The crisis has been compounded by a drop in the currency against the dollar.

The country received recently a loan from the International Monetary Fund (IMF).

The economic crunch has increased political criticism against government spending allocated for mega national projects.

Sisi explained that Egypt's economic and demographic conditions necessitate taking giant leaps in a short time, stressing that the country is in a race against time to overcome the dangers and repercussions of population growth.

The major development projects carried out by the state were not for show, but necessary to establish the investment environment and infrastructure to achieve comprehensive economic development that raises the standard of living of all people, said Sisi.

"It is impossible to embark on the path of modern industrialization and massive export without having the necessary elements to achieve this, including cities, roads, a transportation network, technology, electricity, water, and sanitation."

Addressing the currency exchange rate, the president stressed that the dollar crisis is not new but a recurring pattern resulting from the country's weak production and export capabilities and its increasing demand for dollar goods and services.

"Boosting production and export is pivotal for Egypt. We know that and are sparing no effort as we work to achieve that aim," added Sisi.

Police Day is celebrated on January 25 and commemorates the police’s resistance against the British occupation forces in Ismailia in 1952. Dozens of officers were killed at the time.



Netanyahu Says Deal to Release Hostages Held in Gaza Has Been Reached after Last Minute Snags

People participate in a pro-Palestinian rally in Times Square on January 16, 2025 in New York City. (Getty Images/AFP)
People participate in a pro-Palestinian rally in Times Square on January 16, 2025 in New York City. (Getty Images/AFP)
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Netanyahu Says Deal to Release Hostages Held in Gaza Has Been Reached after Last Minute Snags

People participate in a pro-Palestinian rally in Times Square on January 16, 2025 in New York City. (Getty Images/AFP)
People participate in a pro-Palestinian rally in Times Square on January 16, 2025 in New York City. (Getty Images/AFP)

Prime Minister Benjamin Netanyahu said Friday a deal to return hostages held in the Gaza Strip has been reached, after his office said earlier there were last minute snags in finalizing a ceasefire that would pause 15 months of war.

Netanyahu said he would convene his security Cabinet later Friday, and then the government to approve the long-awaited hostage deal.

Netanyahu's pre-dawn statement appeared to clear the way for Israeli approval of the deal, which would pause the fighting in the Gaza Strip and see dozens of hostages held by fighters in Gaza released in exchange for Palestinian prisoners held by Israel. The deal would also allow hundreds of thousands of displaced Palestinians to return to the remains of their homes in Gaza.

Israeli airstrikes, meanwhile, killed at least 72 people in the war-ravaged territory on Thursday.

Netanyahu said he had instructed a special task force to prepare to receive the hostages returning from Gaza, and that their families were informed the deal had been reached.

Israel had delayed a vote Thursday on the ceasefire, blaming a last-minute dispute with Hamas for holding up approval as rising tensions in Netanyahu’s government coalition raised concerns about the implementation of the deal just a day after US President Joe Biden and key mediator Qatar announced it was complete.

Netanyahu’s office had accused Hamas of reneging on parts of the agreement in an attempt to gain further concessions. In a briefing Thursday, David Mencer, an Israeli government spokesman, said Hamas’ new demands dealt with the deployment of Israeli forces in the Philadelphi corridor, the narrow strip bordering Egypt that Israeli troops seized in May.

Hamas denied the claims, with Izzat al-Rishq, a senior Hamas official, saying the group “is committed to the ceasefire agreement, which was announced by the mediators.”

The ceasefire agreement has drawn fierce resistance from Netanyahu's far-right coalition partners, which the Israeli prime minister depends on to remain in power. On Thursday, Israel's hard-line national security minister, Itamar Ben-Gvir, threatened to quit the government if Israel approved the ceasefire. There was no immediate comment from Ben-Gvir following Netanyahu's announcement Friday.

Egyptian Foreign Minister Badr Abdelatty called on Israel and Hamas to implement a Gaza ceasefire plan “without any delay” in an exclusive interview Thursday with The Associated Press. Egypt has been a key mediator between the enemies for years and a leading player in ongoing ceasefire negotiations.

The deal announced Wednesday would pause the fighting with a view to eventually winding down a 15-month war that has destabilized the Middle East and sparked worldwide protests.

Hamas triggered the war with its Oct. 7, 2023, cross-border attack into Israel that killed some 1,200 people and took 250 others hostage.

Israel responded with a devastating offensive that has killed over 46,000 Palestinians, according to local health officials, who do not distinguish between civilians and fighters but say women and children make up more than half of those killed.

The military campaign has leveled vast swaths of Gaza, and pushed about 90% of Gaza’s population of 2.3 million from their homes. Hundreds of thousands are struggling with hunger and disease in squalid tent camps on the coast.

Netanyahu faces heavy internal pressure

The Israeli prime minister has faced great domestic pressure to bring home the hostages, whose families have pleaded with Netanyahu to prioritize the release of their loved ones over politics.

But Israeli divisions over the deal were on stark display Thursday, as Ben-Gvir threatened to resign, saying the ceasefire was “reckless” and would "destroy all of Israel’s achievements.”

The departure of Ben-Gvir's Jewish Power party would reduce the number of the ruling coalition’s seats in the Israeli parliament, or Knesset, from 68 to 62 — leaving Netanyahu's government with just the slimmest of majorities. Ben-Gvir said his party would return to the coalition if Israel resumes its war.

Ben-Gvir's resignation would not bring down the government or derail the ceasefire deal. But the move would destabilize the government at a delicate moment and could lead to its collapse if Ben-Gvir were joined by other key Netanyahu allies.

Finance Minister Bezalel Smotrich, for instance, is vehemently opposed to the agreement and has demanded that Netanyahu promise to resume the war against Hamas after the first phase of the ceasefire as a condition of his party staying in the coalition.

A night of heavy Israeli strikes

Palestinians in Gaza reported heavy Israeli bombardment Thursday. In previous conflicts, both sides have stepped up military operations in the final hours before ceasefires as a way to project strength.

“We were expecting that the (Israeli) occupation would intensify the bombing, like they did every time there were reports of progress in truce talks,” said Mohammed Mahdi, who was sheltering in Gaza City.

Gaza’s Health Ministry said the toll of 72 from Thursday’s strikes only included bodies brought to two hospitals in Gaza City and the number killed was likely higher.

“Yesterday was a bloody day, and today is bloodier,” said Zaher al-Wahedi, a Health Ministry official.

The Israeli military said it had struck approximately 50 militant targets across the Gaza Strip over the past day, including weapons storage facilities and rocket launch sites.

Anxiety spread across Gaza on Thursday with the news of last-minute quarreling between Hamas and Israeli officials.

“We ask our brothers in Hamas to communicate with mediators to end the war,” said Omar Jendiya, in Deir al-Balah. “Enough with the destruction and killing.”

A phased withdrawal and hostage release with potential pitfalls

Under the deal reached Wednesday, 33 of some 100 hostages who remain in Gaza are set to be released over the next six weeks in exchange for hundreds of Palestinians imprisoned by Israel. Israeli forces will pull back from many areas, hundreds of thousands of Palestinians would be able to return to what’s left of their homes, and there would be a surge of humanitarian assistance.

The remainder of the hostages, including male soldiers, are to be released in a second — and much more difficult — phase that will be negotiated during the first. Hamas has said it will not release the remaining captives without a lasting ceasefire and a full Israeli withdrawal, while Israel has vowed to keep fighting until it dismantles the group and to maintain open-ended security control over the territory.

Ceasefire leaves questions about Gaza's future unanswered US President-elect Donald Trump’s Mideast envoy joined the talks in the final weeks, and both the outgoing administration and Trump’s team took credit for the breakthrough.

Longer-term questions about postwar Gaza remain, including who will rule the territory or oversee the daunting task of reconstruction.

Israel has come under heavy international criticism, including from its closest ally, the United States, over the civilian toll in Gaza. It also blames Hamas for the civilian casualties, accusing it of using schools, hospitals and residential areas for military purposes.

Hamas has come under overwhelming pressure from Israel's invasion of Gaza’s largest cities and towns and seizure of the border between Gaza and Egypt. Its top leaders, including Yahya Sinwar, who was believed to have helped mastermind the 2023 attack, have been killed.

But its fighters have regrouped in some of the hardest-hit areas after the withdrawal of Israeli forces, raising the prospect of a prolonged insurgency if the war continues.