“I will present a statement of account in January and February about Egypt under my rule,” President Abdel Fattah Al-Sisi said during his meeting with editors-in-chief of state-owned newspapers, on Tuesday. Al-Sisi said that protectionist measures were taken for the benefit of the middle class and the low-income families, and the government will duplicate the subsidy and free taxing. The president expressed his rejection of the phrase “everything is ok” and said, however, that citizens may complain of the costliness, but they know that the responsibility requires exerting more efforts. Al-Sisi defended his decision of floating the local currency and described the decision as inevitable. “Citizens will wonder soon when we pass this phase,” Al-Sisi added.

Source: Daily News Egypt May 17, 2017 12:56 UTC