15 June 2022; MEMO: Egyptian President Abdel Fattah Al-Sisi yesterday called on citizens to be "patient" as the country goes through tough economic conditions.
"When Egypt's income reaches $1 trillion a year, hold me accountable," Al-Sisi said.
He noted that the production industry in Egypt required improvements in "leaps and bounds, not just accelerated steps," adding that the country was "falling behind."
The Egyptian leader called on civil society organisations and the private sector "to help the government maintain the country's stability amid the severe economic crisis resulting from the Russian war on Ukraine."Egypt faces a budget deficit of $20 billion, a debt-to-GDP ratio of 85 per cent and high prices for major commodities which are imported.
