{"id":28289,"date":"2018-08-30T06:44:02","date_gmt":"2018-08-30T06:44:02","guid":{"rendered":"https:\/\/v2.ecomnewsmed.com.ecn-01.ovea.com\/2018\/08\/30\/economy-what-has-al-sisi-done-since-taking-power\/"},"modified":"2020-08-11T11:33:52","modified_gmt":"2020-08-11T09:33:52","slug":"economy-what-has-al-sisi-done-since-taking-power","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2018\/08\/30\/economy-what-has-al-sisi-done-since-taking-power\/","title":{"rendered":"Economy: what has Al-Sisi done since taking power?"},"content":"\nSecurity is undoubtedly one of the key areas Al-Sisi has focused on during his first mandate. If Egypt wants to make foreign investments come back, the situation must be constantly under control. In November 2017, terrorists killed more than 300 people at a mosque in the Sinai. \nThat was the deadliest attack since ISIS has established active cells in the Peninsula. Even if \u201cbrute force\u201d was used against Islamist insurgency groups in the Sinai with heavy weapons and thousands of army soldiers, \u201csecurity has not remarkably improved as \u201cwe\u201d still have attacks, even in Cairo\u201d, Jan Claudius Volkel, a researcher at the Institute for European Studies, said to Euronews. \nWhile Al-Sisi\u2019s supporters argue that the situation improved, years of intense military action are still to come. The other key focus of Al-Sisi\u2019s first rule has been economic development.\nThe gap between macroeconomic figures and what the reality looks like for most Egyptians\nA plethora of investments ranging from the expansion of the Suez Canal to a yet-to-be-named new administrative capital is seen as the solution to the problems Egypt is facing. \u201cFor the first time, we are dealing with an integrated development solution where, together with the industrial and investment zone, there\u2019s a whole society and full services that provide people with entertainment as well as schools, health facilities and housing\u201d, Minister of Investment Sahar Nasr told TRT World. \nThe government claims to have been very successful in what Al-Sisi calls \u201cbig bang projects\u201d. In addition, the International Monetary Fund approved a three-year $12 billion bailout programme for Egypt in 2016 in exchange of drastic economic measures and a 48% Egyptian pound devaluation to secure the loan. \nAl-Sisi says major improvements have already been seen (the rise of reserve currencies at their highest levels since 2011). However, observers say that there is a gap between macroeconomic figures and what the reality for most Egyptians looks like. \u201cThe economy is not particularly strong with tourism revenues down, inflation at almost record highs and the Egyptian pound incredibly weakened as a result of a massive devaluation\u201d, said Samer Shehata, a professor of Middle Eastern politics at the University of Oklahoma.\nTo see more, discover our latest videos on the Egyptian economy :\u00a0\n\u00a0\n\n\u00a0\n\n","author":42,"featured_media":2769,"comment_status":"open","ping_status":"open","template":"","tags":[5754,5752,5764,5761,5763,5766,5751,5756,5755,5753,5767,2961,5750,5759,5762],"location":[5600],"class_list":["post-28289","news","type-news","status-publish","has-post-thumbnail","hentry","tag-business","tag-business-support","tag-communities","tag-decision-makers","tag-direct-broadcasting","tag-economic-analysis","tag-economy","tag-employment","tag-employment-training","tag-entrepriseslife","tag-expert-opinion","tag-institutions","tag-news","tag-politics","tag-trending","location-egypt"],"short_url":"","have_related_news":null,"chapo":"ince being sworn into office, Al Sisi, 64, says he has brought stability and security to a country rocked by uncountable terrorist threats. This was seen as the ground zero to attack economic development. On the second half of his first mandate, Al-Sisi launched what he called \u201cbig bang projects\u201d while reinforcing the cooperation with the International Monetary Fund (IMF) with some unprecedented decisions.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/02\/cairo-1.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/02\/cairo-1.jpg 550w","sizes":"550px","alt":"La Chine va financer la construction de la nouvelle capitale administrative \u00e9gyptienne 1","width":550,"height":360,"ratio":0.67,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/02\/cairo-1.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/02\/cairo-1.jpg 1170w","sizes":"1170px","alt":"La Chine va financer la construction de la nouvelle capitale administrative \u00e9gyptienne 1","width":1170,"height":658,"ratio":0.67,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Economy: what has Al-Sisi done since taking power? - Ecomnews Med<\/title>\n<meta name=\"description\" content=\"Security is undoubtedly one of the key areas Al-Sisi has focused on during his first mandate. 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