"This support is necessary to President El-Sisi's successful march towards comprehensive development in Egypt," said a party statement on Wednesday.

"Out of keenness to preserve the achievements of the last ten years in all of Egypt's sectors, we declare our support for President Abdel-Fattah El-Sisi to run in the upcoming presidential elections," the statement added.

"President El-Sisi took power in Egypt amid difficult circumstances and great challenges, the scope of which was unprecedented," said the statement. "Under President El-Sisi's leadership, and with the steadfastness of the Egyptian people and security forces, Egypt was able to successfully fight terrorism and achieve security and stability as well as march forward to development in all political, economic and social spheres."

The statement further indicated that the party also support "El-Sisi's drive to create a decent life for Egyptians while preserving internal stability, rebuilding national institutions, and achieving the sustainable development strategy of Egypt 2030."

Senator Hossam El-Khouli, deputy chairman of Mostaqbal Watan, noted that the party would mobilize its human resources and offices across Egypt to support El-Sisi's presidential election campaign and urged all citizens to stand behind the country's incumbent leader to win a third term in office.

The Mostaqbal Watan party holds the parliamentary majority in the two houses of parliament – the House of Representatives and the Senate. It has 355 seats out of 596 in the House and 153 out of 300 in the Senate.

The party's decision comes one day after Egypt's National Election Authority (NEA) announced it would soon announce the timetable for the 2024 presidential election. The NEA's chairman Walid Hamza said the authority is currently finalizing logistical arrangements for the poll.

President El-Sisi has not officially declared that he will run for a third presidential term. He was elected president of Egypt in May 2014 and re-elected in June 2018.

A 2019 amendment to the constitution extended the presidential term from four to six years. Therefore, El-Sisi, whose current term ends in 2024, has the chance to run for another six-year term in office, ending in 2030.

Article 140 of the constitution stipulates that the process to elect a new president must begin at least 120 days before the end of the current presidential term, meaning the process must begin by 1 December 2023 at the latest.

Articles 141 and 142 of the constitution stipulate that a presidential candidate must secure endorsements from 20 MPs or else 25,000 registered voters spread across at least 15 governorates, with a minimum of 1,000 endorsements from each governorate.

So far, four candidates have announced their intention to compete in Egypt's presidential election.

These include Abdel-Sanad Yamama, head of the El-Wafd party; Fouad Badrawi, a former MP and member of the El-Wafd party's Higher Council; Hazem Omar, head of the People's Republican Party; Ahmed El-Fadaly, chairman of the Democratic Peace Party; and Ahmed Tantawi, a former MP.