Egypt’s Economic Quagmire: Soaring Debt and Impending Poverty as Sisi Gears Up for Another Term
Watan-Egyptians are heading to the polls for presidential elections, with Abdel Fattah el-Sisi poised for victory as the country grapples with severe economic conditions and a border conflict in Gaza.
Sisi faces no serious competition among the three candidates, none of whom are considered prominent figures, according to a report by the Middle East Eye.
Egyptians cast their votes on Sunday in Cairo amid tight security measures, with riot police deployed at the entrances to Tahrir Square, alongside the deployment of thousands of forces across the country.
The three candidates running against Sisi are unfamiliar to the majority of Egyptians. They are Fared Zahran, the leader of the Egyptian Social Democratic Party; Abdel Sattar Yameen, the head of the Wafd Party; and Hazem Omar, the head of the Republican People’s Party.
Two opposition figures had attempted to participate in these elections, but their efforts were thwarted by the authorities. One of them is the blogger Hisham Qassem, currently imprisoned, and the other is Ahmed al-Tantawi, awaiting trial.
Al-Tantawi, a leftist politician and a strong opponent of Sisi, withdrew from the presidential race last month after significant violations against him and members of his campaign. Al-Tantawi and dozens of his campaign members are being tried on charges of fraud, which many consider retaliatory actions for challenging Sisi.
Businessmen Forced to Support Sisi
Despite the lack of competitors in the elections, the Sisi government compelled businessmen to support him in the weeks leading up to the elections.
Owners of small and medium-sized companies in three cities reported being coerced by officers to print signs endorsing Sisi, hanging them in key areas, and working to mobilize voters on election days.
In Cairo, small crowds gathered at polling stations in the capital, displaying images supporting Sisi, ranging from double-sided street banners to fabric signs and printed posters.
Economic Crisis
Egyptians are grappling with rising prices in a country of 105 million people, nearly a third of whom live in poverty, experiencing the worst economic crisis in recent history.
With inflation soaring in the country, many criticize the government for massive projects that do not prioritize essential needs.
Since 2016, the Sisi regime has implemented what it calls economic reforms, including high-cost projects that have failed to deliver promised benefits.
Meanwhile, national debt has tripled, and the currency has lost half its value, leaving Egyptians struggling to meet their needs.
The war in Gaza has overshadowed the electoral scene in Egypt, especially as hundreds of thousands of Palestinians gathered near the border with Egypt, facing an uncertain future regarding their final destination.
