Sisi: Egypt’s economic situation is ‘very difficult’

The army chief's speech appeared to be a signal of determination to tackle Egypt's economic woes

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Egyptian army chief Field Marshal Abdel Fattah al-Sisi said on Thursday that the country's economic situation is grave.

“Sincerely speaking, our economic situation is very difficult,” Sisi told a military convention in footage aired on state television.

Sisi appeared to be sending a signal he is determined to tackle Egypt's economic woes.

“I can see Egypt's problems in front of my eyes like I am seeing you all now,” said Sisi. “The country will not develop by talk but by hard work and insistence.”

President apparent

The powerful army chief, who was behind the outer of Egypt’s first civilian elected president Mohammad Mursi last July, has become a popular public figure in Egypt ever since.

In a speech he made earlier this week, Sisi hinted at running for Egypt’s presidency as soon as formal electoral procedures were finalized. His remarks sparked a rise in Egypt’s stock market after on Tuesday.

Sisi is expected to announce soon that he will run for president in an election later this year.

(With Reuters)

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