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.



Israeli Security Cabinet Approves Ceasefire Deal

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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Israeli Security Cabinet Approves Ceasefire Deal

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)

The Israeli security cabinet approved a ceasefire deal on Friday, paving the way for the return of the first hostages from Gaza as early as Sunday and bringing a halt to 15 months of conflict that have devastated the coastal strip.

The accord is still conditional on the approval of the full cabinet, which was meeting on Friday afternoon.

The war between Israeli forces and Hamas has razed much of heavily urbanized Gaza, killed more than 46,000 people, and displaced most of the enclave's pre-war population of 2.3 million several times over, according to local authorities.

If successful, a ceasefire could also ease hostilities in the Middle East, where the Gaza war spread to include Iran and its proxies - Lebanon's Hezbollah, Yemen's Houthis and armed groups in Iraq as well as the occupied West Bank.

In Gaza itself on Friday, Israeli warplanes kept up heavy strikes, and medics and rescue authorities said that at least 104 Palestinians, including 58 women and children, had been killed since the deal was announced on Wednesday.

Under the six-week first phase of the three-stage deal, Hamas will release 33 Israeli hostages, including all women (soldiers and civilians), children, and men over 50.

Israel will release all Palestinian women and children under 19 detained in Israeli jails by the end of the first phase. The total number of Palestinians released will depend on hostages released, and could be between 990 and 1,650 Palestinians, including men, women and children.

The Israeli Justice Ministry on Friday released a list of 95 Palestinian prisoners to be freed in the first exchange on Sunday.

Hamas said in a statement that obstacles that arose on the terms of the Gaza ceasefire agreement have been resolved.

After a last-minute delay on Thursday that Israel blamed on Hamas, Netanyahu's office in the early hours of Friday said Israel's security cabinet would meet to approve the ceasefire accord. Hamas on Thursday said it was committed to the agreement, which takes effect on Sunday.

ACCORD REACHED ON HOSTAGES

"Prime Minister Benjamin Netanyahu was informed by the negotiating team that agreements have been reached on a deal to release the hostages," his office said in a statement.

Palestinians waiting for food in the southern Gaza Strip on Friday said they hoped a truce will mean an end to hours of queuing to fill one plate.

"I hope it will happen so we'll be able to cook in our homes and make whatever food we want, without having to go to soup kitchens and exhaust ourselves for three or four hours trying to get (food) - sometimes not even making it home," displaced Palestinian Reeham Sheikh al-Eid said.

The deal faced strong opposition from hardliners in Netanyahu's coalition, who said it was a capitulation to Hamas, which had controlled Gaza. National Security Minister Itamar Ben-Gvir threatened to resign if it was approved. However, he said he would not bring down the government.

Following the security cabinet meeting, Ben-Gvir repeated his opposition to the ceasefire deal in a statement and called on members of the full cabinet to join him in voting against it.

His fellow hardliner, Finance Minister Bezalel Smotrich, also threatened to quit the government if it does not go back to war to defeat Hamas after the first six-week phase of the ceasefire was completed.

In Gaza, the airstrikes continued. In the aftermath of one strike on tents housing displaced people, a boy picked through damaged items on the floor that was littered with canned food and coffee pots.

That attack killed two people and wounded seven at an encampment close to Nasser Hospital in Khan Younis, according to medics.

Also in Khan Younis, mourners gathered around the body of a man killed in an Israeli strike as women hugged each other and cried.

"Life has become an unbearable hell," said resident Jomaa Abed al-Aal.

There was no comment from the Israeli military on the latest strikes.

HOSTAGE FAMILIES WANT SWIFT ACTION

Israel says 98 hostages are still being held in Gaza. About half are believed to be alive. They include Israelis and non-Israelis. Of the total, 94 were seized in the Oct. 7, 2023, Hamas-led attack on Israel and four have been held in Gaza since 2014.

For the first time, Israeli authorities have officially informed hostage families of the names of the first 33 to be released but it remains unclear how many of those on the list are still alive.

The ceasefire accord emerged on Wednesday after mediation by Qatar, Egypt and the United States, Israel's main supporter. As well as the release of hostages and Palestinian prisoners, the deal includes a gradual withdrawal of Israeli troops from Gaza.

It also paves the way for a surge in humanitarian aid for the coastal strip, where the majority of the population has been displaced and faces hunger, sickness and cold.

A World Health Organization official said on Friday it should be possible to scale up aid imports into Gaza massively to about 600 trucks a day under the terms of the deal.

The aid surge requires more than a 10-fold daily increase in lorries from the daily average of 51 that UN data shows entered the enclave in early January.

Israel launched its campaign in Gaza after Hamas-led gunmen burst into Israeli border-area communities on Oct. 7, 2023, killing 1,200 soldiers and civilians and abducting over 250 hostages, according to Israeli tallies.