Egyptian President Abdel Fattah El-Sisi met with Prime Minister Mostafa Madbouly, the Council of Ministers, and the Council of Governors, along with senior officials and leaders of the armed forces and civil police, to discuss the country's economic challenges and regional stability. The meeting, which took place at the Strategic Command headquarters in the new capital, also included local elders and experts. President Sisi reviewed the country's recent economic shocks, including the COVID-19 pandemic, the Russian-Ukrainian war, and the conflict in the Gaza Strip.
According to the President's spokesperson, Mohamed El-Shenawy, President Sisi emphasized that Egypt has faced significant economic challenges since 2020, including the impact of the pandemic and ongoing conflicts in the region. He noted that attempts to displace people in the region continue, and that Egypt's strategic choice is peace, as established by the late President Mohamed Anwar El-Sadat. The President stressed that Egypt has no hidden agenda and that the Palestinian issue remains central to the Middle East peace process.
President Sisi highlighted the importance of resolving the Palestinian issue, stating that a two-state solution is the only way to achieve lasting peace and stability in the region. He also emphasized Egypt's commitment to supporting and securing the stability of Arab Gulf states. The President noted that maintaining freedom of navigation in international waterways, in accordance with international law, is crucial for regional stability.
The President also discussed the economic impact of regional instability on Egypt, citing the country's loss of approximately $20 billion in Suez Canal revenue over recent years. He attributed this loss to the unstable conditions in the region, which have affected the country's economy. President Sisi's comments underscore the significant economic challenges facing Egypt and the need for regional stability to support economic growth.
The meeting included a discussion on the importance of cooperation between government agencies, local authorities, and experts to address the country's economic challenges. President Sisi emphasized the need for a coordinated approach to address these challenges and promote economic stability. The President's emphasis on cooperation reflects the government's efforts to engage with various stakeholders to find solutions to the country's economic woes.
Egypt's economic challenges are closely tied to regional stability, and President Sisi's meeting with officials reflects the government's efforts to address these interconnected issues. The country's strategic location and role in regional affairs make its stability crucial for the wider region. President Sisi's comments on the importance of peace and stability in the region highlight Egypt's commitment to promoting a stable and secure environment.
In conclusion, President Sisi's meeting with officials highlights the government's focus on addressing Egypt's economic challenges and promoting regional stability. The country's loss of $20 billion in Suez Canal revenue underscores the need for a stable and secure environment to support economic growth. As Egypt continues to navigate regional challenges, the government's efforts to promote cooperation and stability will be crucial in addressing the country's economic woes.
Key points
- Egypt has lost approximately $20 billion in Suez Canal revenue due to regional instability.
