25 February 2021 04:16 PM

China's Xinhua news agency Report: Egypt, led by Sisi, witnessing political, security stability, economic development

Wednesday، 27 January 2021 - 08:43 AM
China's Xinhua news agency Report: Egypt, led by Sisi, witnessing political, security stability, economic development

Egypt, under President Abdel-Fattah El Sisi, has been witnessing political and security stability and economic development success over the past ten years after the January 25 Revolution, China's Xinhua news agency reported.


In a report published on Tuesday26/1/2021, the news agency said that since President Sisi took the helm in 2014, a three-pronged plan has been implemented, which included stabilizing state institutions, fighting terrorism and extremist ideology and economic development via launching the largest development program in the country's history.


Over the past years, President Sisi managed to achieve governmental and parliamentary stability, compared to the situation during the period from 2011 to 2013, during which the parliament was dissolved twice and the government lined-up five times.


In April 2019, a constitutional referendum was held in Egypt. The turnout of voters was 27 million voters, 88.83% of them voted in favour of introducing constitutional amendments with the view to achieving political stability.


As for fighting chaos and terrorism, the Egyptian street is currently witnessing an unprecedented state of security stability, compared to the chaos that prevailed during the January 25 Revolution and the tensions that followed it, which lasted until the June 30 Revolution in 2013, the report said.


It underlined that there is a notable decline in the number of terrorist operations carried out by 'Welayat Sinai' group, belonging to Daesh group and "Hasm" movement, which is linked to the Muslim Brotherhood, is the best evidence of security success, as the year 2019 witnessed only two terrorist attacks, compared to eight attacks in 2018, 50 in 2017, 199 in 2016, and 222 in 2014.


In parallel with Egypt's war on terrorism, the country is proceeding with an overall development program, the largest in its history, as 31,000 projects have been and are being implemented in all areas; infrastructure, urbanization, agriculture, industry and others since 2014.


It also quoted Prime Minister Moustafa Madbouli's statements, a few days ago during President Sisi’s opening of several fish and animal production projects, in which he said Egypt has up to 31,000 projects, with a total investment cost exceeding EGP 5.8 trillion and adding, so far, EGP 3 trillion have been spent to implement them.


A few days ago, President Sisi launched a national project to develop 4,500 villages nationwide within three years, at a total cost of EGP 515 billion. The project will change the lives of 58 million people.


These mega development projects are being implemented in light of the improvement in economic indicators, as the growth rate of the Egyptian economy reached 3.8% of the gross domestic product (GDP) during FY 2019-2020. This is the highest growth rate at the level of most emerging countries, taking into account the negative repercussions of the COVID-19 crisis.


Ahead of the outbreak of the coronavirus pandemic, the growth rate upped to 5.6% during 2018-2019, compared to 1.8% during 2010-2011.


While the deficit in the state budget during 2019-2020 went down to nearly 7.8% of GDP. The government is working on reducing it again to 6.3% in 2020-2021, compared to 9.5% in 2010-2011 and 11% in 2011-2012.


During 2019-2020, the inflation rate recorded its best level in 14 years due to a decrease in food prices.


The tourism sector also achieved the highest revenues in its history in 2019 to exceed dlrs 13.03 billion, before retreating in 2020 due to the COVID-19 crisis.


In 2019, tourism revenues amounted to dlrs 13.03 billion, compared to dlrs 8.8 billion in 2011.


Nearly 13.1 million tourists visited Egypt in 2019, against 9.8 million tourists in 2011.


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