Faith Nyasuguta
Egypt’s President Abdel Fattah al-Sisi embarked on his third term on Tuesday in the country’s new capital amid the backdrop of mega-projects symbolizing his leadership, despite financial strains.
In power for the past decade, the 69-year-old former army chief is set to remain president until 2030.
Speaking before parliament, Sisi vowed to “remain faithful to my work, my eyes seeing only your interests and this country’s”.
The six-year term is set to be his last, unless he again ushers through a constitutional amendment prolonging his tenure.
Sisi’s re-election last December, with 89.6 percent of the vote, lacked serious contenders, with voters showing indifference amidst economic challenges.
The Egyptian government allowed its currency to depreciate recently, following a $35 billion boost from an Emirati wealth fund, alleviating long-standing foreign currency shortages.
This paved the way for an expanded $8 billion deal with the International Monetary Fund (IMF), emphasizing extensive reforms aimed at reducing the state’s role in business.
Under Sisi’s presidency since 2014, Egypt has gone for ambitious infrastructure projects, led by the military, to accommodate its growing population, now exceeding 100 million.
The $58 billion New Administrative Capital, along with expansions of the Suez Canal and new cities, constitute significant investments, yet critics argue they exacerbate Egypt’s economic challenges and debt burden.
Despite economic strains, Egypt’s role in managing the Gaza crisis bolstered its global standing. Serving as a conduit for aid and initiating ceasefire talks, Egypt demonstrated its diplomatic influence amidst regional turmoil.
Sisi’s ascent to power in 2013 following the removal of Mohamed Mursi, Egypt’s first democratically elected president, marked a turning point. Human rights groups have criticized the government’s crackdown on dissent, resulting in the imprisonment of thousands, including both liberal activists and Islamists.
Nevertheless, Sisi and his supporters prioritize stability and security, citing ongoing efforts to provide social rights such as housing and employment.
Amidst domestic challenges and regional dynamics, Sisi’s leadership enters a new term, balancing economic aspirations with political realities.
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