Al-Sisi vows to focus on economy, extremism

As he was sworn in before parliament for a second term on June 2nd, Egyptian President Abdel Fattah al-Sisi pledged to push forward with an economic reform plan and continue to fight extremism.

In his address to parliament, al-Sisi said Egypt has faced "brutal terrorism" in recent years that has left a legacy of economic, social and political challenges.

To address these issues, al-Sisi said, he oversaw the development of a "political, economic and social reform plan in parallel to confronting the security threats facing Egypt", during his first term in office.

The solidarity of the Egyptian people will be key to achieving victory over extremist groups and moving towards a brighter economic future, he added.

Egypt is graced by the presence of Al-Azhar, "the platform for moderate Islam", he said, and by the ancient Egyptian Church, "the symbol of peace and tolerance".

"The will of our people is secured and protected by the brave men of the great Egyptian army and heroic police," he added.

Security successes

The key challenge al-Sisi faces in the days ahead is maintaining the successes achieved by the Egyptian forces in fighting extremists, experts told Al-Mashareq.

The Egyptian army on February 9th launched a large-scale campaign, Operation Sinai 2018, targeting extremist groups in northern and central Sinai as well as in parts of the Nile Delta and the Western Desert.

"Economic development and expansion of national projects will cut off the path of terrorist groups," said former State Security Agency deputy chief Fouad Allam. "Economic and political stability is the most important weapon against terrorism."

Operation Sinai 2018 "is proceeding very well, and has succeeded to a great extent in besieging the terrorist groups, striking their infrastructure and cutting off all their supply routes and means", he told Al-Mashareq.

But these groups also must be confronted through religious and ideological means, in order to ensure they do not influence Egyptian youth, he said.

Operation Sinai 2018 has succeeded in eliminating a large number of extremists, National Elections Authority chief Lasheen Ibrahim told Al-Mashareq.

"The military security solution should be accompanied by expediting development projects in north and central Sinai" and attracting investors, he said, adding that "this is what guarantees long-term stability".

Sustainable development

In addition to the security challenges, sustainable development and completion of the economic reform plan are among the government's top priorities, economist Sherif Delawar told Al-Mashareq.

"Moving forward with the government's sustainable development plan is of utmost importance at the moment to ensure the Egyptian economy is rebuilt on sound foundations," he said.

"The reform programme the government adopted and began two years ago has proved successful so far," Delawar said.

Economic reforms have improved Egypt's credit rating, increased its foreign currency reserves and created employment in national projects, he added.

The government rolled out a programme of economic reform in 2016 aimed at improving the functioning of foreign exchange markets, reducing the budget deficit and government debt, and increasing growth to create jobs.

The International Monetary Fund agreed to grant Egypt a $12 billion loan over three years to help it implement the reform programme.

"The past two years have seen significant progress in the creation of jobs for the youth and empowering them economically," said Amr Fattouh, a member of the Egyptian Businessmen’s Association.

"This progress came thanks to a number of successful initiatives launched by the government, with the support of president al-Sisi," he told Al-Mashareq.