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Wednesday, August 3, 2016
Speaking at a young leadership conference Egypt’s president, Abdel Fattah al-Sisi, warned that tough measures would be needed to turn the country’s economy around. Sisi’s words were a bid to prepare Egyptians for a series of measures, including the ever unpopular subsidy cut, to weather the country’s current economic storm.
“The problem is whether public opinion is prepared to accept the measures which could be tough or harsh,” he told young people at the conference.“Egyptians love their country and are able to face hardship but they are too busy with their daily lives and thus must be afforded the correct information regarding the measures.”
Currently the government is negotiating a $12-billion loan program with the IMF. It hopes to finalize the IMF deal in August.
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