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Egypt is burdened LE1.7 trillion in debt, El-Sisi says in TV interview

Ahram Online, Tuesday 6 May 2014
El Sisi
In this image made from video broadcast on Egypt's State Television, Egypt's retired Field Marshal Abdel-Fattah el-Sissi listens to a question during an interview in a nationally televised program in Cairo, Egypt, Monday, May 5, 2014 (Photo: AP)
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In the second part of the first-ever media interview with presidential candidate and former army chief Abdel-Fattah El-Sisi, the ex-defence minister said that the Egyptians face challenges in all aspects of the state – education, housing, unemployment and the economy.

He told the anchors – ONTV’s Ibrahim Eissa and CBC’s Lamis El-Hadidi – that a lot of work is needed, spelling out Egypt's external and internal debt at LE1.7 trillion ($240 billion), with nearly LE200 billion in annual interest rates.

"Can we leave this debt to our children and grandchildren?" he asked, before responding "no".

"We must jump, not walk or run, to resolve this problem," he declared. "I won't sleep and you won't sleep. Egyptians are able to do this, I am sure about this."

In the first part of the interview aired on Sunday, El-Sisi spoke of his upbringing, his decision to run for the presidency and the Muslim Brotherhood.

Egyptians will vote for a new president on 26-27 May. El-Sisi's only contender is Nasserist politician Hamdeen Sabahi, who finished third in Egypt's 2012 presidential elections.

 

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