CAIRO: Egypt’s president said Wednesday that the most painful part of his ambitious economic reform program was over, but cautioned there was still some way to go before it’s completed.
The reforms included floating the currency, substantial cuts in state subsidies on basic goods, and introducing a wide range of new taxes. The measures led to a significant rise in prices and services, something critics say has hurt the poor and middle class the hardest.
The reforms were agreed on with the International Monetary Fund in exchange for a $12 billion loan.
In televised comments aired live, Abdel Fatteh El-Sisi said Egypt has gone through the worst of the fallout from the reforms. “Not too much is left and it won’t be harsher than what we had already gone through. We are determined to finish it.”
El-Sisi thanked Egyptians for “enduring the harsh and difficult (economic) measures,” something that he has often done since the reforms began in 2016 with the floatation of the currency that cost the Egyptian pound more than half of its value.
His thanks and implicit warning that more reforms were to come appeared designed to prepare Egyptians for a widely anticipated wave of price rises this year that could include fuel and electricity.
He said his government had no choice but to embark on the reform program.
“Anything else would have led to the collapse of the state,” he said in an address marking Police Day, a national holiday that falls on Jan. 25.
Years of political turmoil and violence following a 2011 uprising that toppled the 29-year regime of autocrat Hosni Mubarak has crippled the economy, keeping foreign tourists and investors out and reducing productivity. El-Sisi’s reforms and improved security have improved economic indicators, winning praise from Cairo’s Western backers but they are yet to filter down to most Egyptians.
El-Sisi tells Egypt most painful economic reforms are over
El-Sisi tells Egypt most painful economic reforms are over
Ceasefire with Kurdish-led force extended for another 15 days, Syrian army says
- The defense ministry said the extension was in support of an operation by US forces
- There was no immediate statement from the Kurdish-led SDF
RAQQA, Syria: Hours after the expiration of a four-day truce between the Syrian government and Kurdish-led fighters Saturday, Syria’s defense ministry announced the ceasefire had been extended by another 15 days.
The defense ministry said in a statement that the extension was in support of an operation by US forces to transfer accused Daesh militants who had been held in prisons in northeastern Syria to detention centers in Iraq.
There was no immediate statement from the Kurdish-led Syrian Democratic Forces.
Over the past three weeks, there have been intense clashes between government forces and the SDF, in which the SDF lost large parts of the area they once controlled.
Earlier on Saturday, a four-day truce between the Syrian government and Kurdish fighters had ended with no clear sign of whether it would be renewed, as the main Kurdish-led force in the country called on the international community to prevent any escalation.
Syria’s state news agency SANA had quoted an unnamed government official as saying that the truce had ended and the government was “studying its options.”
Syria’s interim government signed an agreement last March with the SDF for it to hand over territory and to eventually merge its fighters with government forces. In early January, a new round of talks failed to make progress over the merger, leading to renewed fighting between the two sides.
A new version of the accord was signed last weekend, and a four-day ceasefire was declared Tuesday. Part of the new deal is that SDF members will have to merge into the army and police forces as individuals.
The SDF said in a statement Saturday that military buildups and logistical movements by government forces have been observed, “clearly indicating an intent to escalate and push the region toward a new confrontation.” The SDF said it will continue to abide by the truce.
On Saturday, state TV said authorities on Saturday released 126 boys under the age of 18 who were held at the Al-Aqtan prison near the northern city of Raqqa that was taken by government forces Friday. The teenagers were taken to the city of Raqqa where they were handed over to their families, the TV station said.
The prison is also home to some of the 9,000 members of the Daesh group. Most of them remain held in jails run by the SDF. Government forces have so far taken control of two prisons while the rest are still run by the SDF.
Earlier this week, the US military said that some 7,000 Daesh detainees will be transferred to detention centers in neighboring Iraq. On Wednesday, the US military said that 150 prisoners have been taken to Iraq.
