The Enigma of Egypt’s Presidential Finances: Uncovering the Truth Behind el-Sisi’s Wealth

Watan-The “True Egypt” platform shed light on the wealth of the Egyptian President, Abdel Fattah el-Sisi, and his official salary, which he is supposed to receive for his presidential duties. This came after newspapers and state-owned websites published reports about the amount received by the American President, Joe Biden.

The investigation conducted by the platform, as documented by (Watan), pointed out that el-Sisi is violating the constitution, specifically Article 145, by not declaring his annual financial disclosure since assuming the presidency.

How much does el-Sisi receive and what is the size of his wealth?

In this context, the investigation mentioned that following el-Sisi’s coup against the late President Mohamed Morsi and his assumption of power, he announced his waiver of half of his salary, stating in 2014: “My salary is 42,000 pounds, and many of them are on me. I won’t take half of that amount.”

However, despite this, the allocations for the presidency increased by over 100% over ten years, and the total salaries of employees increased by 89%.

It is known that the President receives the maximum wages, which is 42,000 Egyptian pounds. According to Prime Minister’s Decision No. 63 of 2014, the maximum wage is 35 times the minimum wage, not exceeding 42,000 pounds.

Law No. 99 of 1987, as amended in 2014, specifies the President’s salary at about 21,000 pounds, in addition to 21,000 pounds representation allowance. El-Sisi was supposed to waive half of that salary, as announced at the beginning of his tenure.

Article 145 of the Constitution requires the President to submit an annual financial disclosure, published in the Official Gazette, for the citizen’s right to know, as stated in Article 12 of Presidential Election Law No. 22 of 2014, which requires the presidential candidate to submit a financial disclosure as part of the nomination documents.

🔴 قبل أيام، نشرت الصحف والمواقع المملوكة للدولة المصرية تقاريرًا صحفية عن حجم ما يتقاضاه الرئيس الأمريكي جو بايدن، بعد تقديمه لإقراره الضريبي قبل الترشح لانتخابات الرئاسة، في حين لا يعلن الرئيس المصري عبد الفتاح السيسي، إقرار الذمة المالية السنوي منذ توليه الرئاسة، في مخالفة لما… pic.twitter.com/XYBXGswkNE

— صحيح مصر (@SaheehMasr) April 18, 2024

There is deliberate concealment of el-Sisi’s wealth and assets

The “True Egypt” team searched the Official Gazette and found no financial disclosures issued by the President over the past ten years.

This means that el-Sisi did not comply with the constitution in any of the past ten years, nor did he declare his financial disclosure before running for the presidency in the last three times.

In 2018, the election supervisory committee refused to declare the President’s financial disclosure, which he submitted as part of his nomination papers, according to “Mada Masr” website at the time.

Article 145 of the Constitution prohibits the President from engaging in any freelance professions, commercial, or industrial activities during his presidency. Thus, the President is not allowed – according to the Constitution – to invest or develop his wealth during his tenure since 2014 until now.

Additionally, his salary remains constant along with the maximum wages, but the financial disclosure of the President and its evolution or reduction remains unknown.

Increase in Presidency Allocations during el-Sisi’s Era

During el-Sisi’s era, the allocations for the presidency increased from 361 million pounds in 2014 to 842.9 million pounds in 2023, a 133.3% increase, according to data from the general budget.

The average increase in presidency allocations during el-Sisi’s era was about 55 million pounds, while the average increase since the January 25 Revolution until President Adly Mansour’s era was about 23 million pounds annually.

Where are the presidency allocations spent?

The salaries of the presidency’s employees in the budget account for 71% of those allocations for 2023. The presidency institution includes the President, the head of the executive authority, along with the President’s assistants, advisors, the presidential office, which includes more than 16 departments and offices.

The value of employees’ salaries in the presidency amounted to about 598 million pounds in 2024, compared to 316 million pounds in 2014 and 203 million pounds in 2010.

The increase in the total salaries and wages of the presidential institution reached 89% from 2014 to 2023.