Egyptian President Abdel Fattah al-Sisi is set to embark on his third consecutive term, as confirmed by the government newspaper Al-Ahram on Monday. The swearing-in ceremony is scheduled for Tuesday and will take place in the new capital under construction outside Cairo.
Having held power for over a decade, Sisi will officially commence his term on Wednesday. His reelection, with a significant 89.6 percent of the vote, occurred more than three months ago, with Sisi triumphing over three relatively unknown contenders. Notably, Sisi, a 69-year-old former head of the army and defense minister, rose to prominence after orchestrating the removal of former Islamist President Mohamed Morsi amid widespread public protests.
According to the constitution, this new term, lasting six years, is anticipated to be Sisi’s final tenure. Member of Parliament Mustafa Bakri, closely affiliated with the ruling establishment, suggested that a cabinet reshuffle is probable following Sisi’s inauguration, hinting at potential governmental changes.
This ceremonial event unfolds against the backdrop of a severe economic downturn characterized by soaring inflation and a scarcity of foreign currency, hindering international trade. However, Egypt experienced a notable economic boost in the first trimester of 2024, with a substantial influx of billions of dollars, including $35 billion from the United Arab Emirates and an additional $5 billion derived from the International Monetary Fund’s original loan of $3 billion.
While Sisi’s supporters anticipate that this influx of foreign currency will stimulate economic recovery, skeptics remain doubtful, stressing the necessity for structural reforms to diminish the oversized influence of the military and government in Egypt’s economy.
