Egyptian President Abdel-Fattah El-Sisi dismissed on Saturday rumours that the army's business operations amount to 20-50 percent of the GDP, adding that the real number is 1.5 to 2 percent.

“We wish that the army’s economy becomes 50 percent [of GDP], as the army is one of the state's components, but the citizens know this cannot happen,” El-Sisi added.

El-Sisi made the comments during the inauguration of new production lines at the military-owned Al-Nasr Company for Intermediate Chemicals in Abu Rawash industrial zone in Giza governorate.

The company's new production line includes the production of chlorine to help in the state's ongoing water sanitation projects.

Al-Nasr, founded in 1972, currently has 25 factories, 15 of which are in Abu Rawash and nine are in Fayoum governorate.