By Middle East Affairs
Egypt’s President Abdel-Fatah El-Sisi said that the austerity cuts across Egypt were for the good of the country, and he stands behind the widespread arrests of dissent.
In Egypt, the costs of electricity and piped drinking water has been raised by the government as part of an economic reform program imposed by the International Monetary Fund. Egypt in 2016, took out a three-year $12 billion bailout loan from the IMF and is now struggling to pay back its debts.
President Sisi said, “We have to pay the price together.” He went on to say that the country, pays a total subsidy bill of 330 billion Egyptian pounds, $18.6 billion every year.
The price rises that Sisi imposed have affected the lower and middle classes much worse, with many struggling to pay their transportation costs to work.
Since Sisi’s ran for office again in March, with no challengers, the president has rapidly increased arrests, harassment and other questionable tactics on those that do not agree with his regime.