Egypt’s President Abdel Fattah al-Sisi took the oath before parliament, marking the beginning of his third term as the leader of the Arab world’s most populous nation.
Having been in office for the past decade, Sisi’s tenure is expected to continue until 2030, following his landslide victory in the December election, where he secured 89.6 percent of the votes against three relatively unknown candidates.
This upcoming six-year term is likely to be Sisi’s last unless he manages to push through a constitutional amendment extending his presidency.
The inauguration ceremony coincided with the opening of Egypt’s New Administrative Capital, situated in the desert east of Cairo, as reported by local media outlets.
Sisi’s rise to power stemmed from widespread protests against former Islamist president Mohammed Morsi, leading to Morsi’s ousting in 2013.
Following his initial election in the subsequent year and re-election in 2018, both with overwhelming support, Sisi’s administration has grappled with the challenges posed by a severe economic crisis. The crisis has resulted in a significant devaluation of the currency and skyrocketing inflation, reaching a record high of 40 percent last year.
However, recent developments in early 2024 have brought a glimmer of hope for Egypt’s economy, with the country securing over $50 billion in loans and investment deals. These agreements, according to Cairo, are expected to alleviate the acute shortage of foreign currency and breathe new life into the economy.
