Khaberni - Egyptian President Abdel Fattah el-Sisi said that the government's decision to raise the prices of petroleum products was an inevitable measure, but he emphasized nonetheless that "our situation is stable," according to his expression.
El-Sisi added, in a speech during the Egyptian Family Iftar event, that the state did not have to take any measures to set limits on consumption or load shedding, reaffirming the state's commitment to "making the lives of citizens better," pointing out that developments in regional situations have direct repercussions on the domestic front.
Continuing about developments in the region, he said: "We are at a real crossroads and the circumstances are tough," stressing the need to provide necessary explanations to citizens and to maintain complete transparency, expressing the government's readiness to receive any well-considered suggestions that contribute to solving any problem.
The Egyptian president emphasized the need for Egyptians to stay united, saying: "We need to be together and be cautious because the region is changing, and some countries are lost due to erroneous calculations."
He added that "It is neither logical nor fair to continue borrowing in hard currency to cover these needs," explaining that "continuing this approach leads to a vicious cycle of accumulating debts unless decisive extraordinary measures are taken," highlighting that this applies to gas and other goods, with the necessity to provide petroleum products to operate power stations and factories.
He asserted that the state remains keen on avoiding raising prices of staple goods, monitoring markets to prevent any exploitation, and he affirmed that the government must rigorously scrutinize this issue and deal seriously with anyone proven to be involved in exploitation, bringing them to trial.
He mentioned directing the government to quickly launch a new social package targeting those most in need and those with low and middle incomes to ensure a greater degree of social protection, during this critical stage.
