For the past two years, his administration has struggled to contain the fallout of a punishing economic crisis that has seen the currency lose two-thirds of its value and inflation soar to a record 40 percent last year.
Egypt’s President Abdel Fattah al-Sisi was sworn in before parliament on Tuesday for a third term as the Arab world’s most populated country.
Sisi, who has been in power for a decade, is expected to stay president until 2030 after winning an election in December with 89.6 percent of the vote over three relative unknowns.
The six-year term is set to be the 69-year-old’s last, unless he again ushers through a constitutional amendment prolonging his tenure.
The oath also marked the inauguration of Egypt’s New Administrative Capital, located in the desert east of Cairo, local media reported.
Sisi rose to power on the back of mass protests against Islamist president Mohammed Morsi, who was deposed in 2013.
Sisi was elected president the following year and then again in 2018, both times with around 97 percent of the vote.
For the past two years, his administration has struggled to contain the fallout of a punishing economic crisis that has seen the currency lose two-thirds of its value and inflation soar to a record 40 percent last year.
In the first quarter of 2024, however, Egypt saw an influx of over $50 billion in loans and investment deals, which Cairo has said will ease dire foreign currency shortages and revitalise the economy.
AFP
