Yamama said that all the necessary paperwork is ready and complete after he underwent the required medical checks on Tuesday.

The leader of liberal Wafd Party managed to secure the minimum of 20 endorsements from MPs last week, along with rivals like head of the Social Democratic Party Farid Zahran and head of the Republican People’s Party Hazem Omar.

At the same time, hundreds of MPs in the House of Representatives endorsed incumbent President Abdel-Fattah El-Sisi, who announced on Monday he would run in the elections.

In statements to the media on Monday, Yamama called on the Egyptian people to choose carefully between candidates by examining their electoral programmes.

"We are on the brink of economic crises," Yamama said. "We have an opportunity for change in people and visions. We have problems in democracy."

He added that the most important issue for him is economic reform, and that he will soon announce a comprehensive electoral platform.

Yamama said that the Wafd Party's goal in the elections is to compete, not just participate.

The party did not participate in the previous presidential election, Yamama said, due to a decision by the party's board at the time.

He said that he opposed that decision, but that the current political climate allows for competition and there are no excuses for not participating.

Yamama concluded his remarks by saying that the Wafd Party's electoral slogan is "Rise Up, O Egyptian," a song by Sayed Darwish that was released during the 1919 Revolution. It is a historic slogan that expresses the struggle and resistance of the Egyptian people.

Voting in Egypt’s presidential elections will take place from 1-3 December for Egyptians abroad, while domestic voting will occur from 10-12 December. If no run-off is necessary, the winner will be announced on December 18.