Sisi highlights keenness on upping expenditure on social protection

02 / 04 / 2024

By Marwa Nassar -

President Abdel Fattah El Sisi highlighted keenness on supporting social safety nets, increasing the percentage of expenditure on social protection, upping allocations for the “Takaful and Karama” cash support program, as well as completing all stages of the “Decent Life” initiative, which is considered the largest development initiative in the history of Egypt, to achieve a substantial improvement in the standard of living of citizens in the targeted villages.

Sisi made the remarks in his speech which was delivered upon taking oath for the third presidential term.

Increasing funds for social protection was among seven key features and objectives that the president outlined as defining Egypt’s national action in the coming phase.

The seven priorities included focusing on Egypt’s foreign relations. The priority is to protect and preserve Egypt’s national security in a turbulent regional and international milieu and to work toward forging balanced relations with all actors in a new world, whose features are being shaped, and in which Egypt plays an indispensable role to solidify stability, security, peace and development.

Secondly, on the political level, the president highlighted plans to complete and deepen the national dialogue in the coming phase and implement the recommendations agreed upon across the various political, economic and social levels among others, as part of efforts to strengthen the political and democratic engagement, notably by the youth.

Thirdly, the president expounded plans to adopt strategies that maximize Egypt’s economic capabilities and resources, and enhance the solidity and resilience of the Egyptian economy in the face of crises, while achieving strong, sustainable and balanced economic growth, strengthening the role of the private sector as a key partner in leading development, focusing on the sectors of agriculture, industry, communications and information technology, and tourism and increasing their contribution to the GDP gradually. This is, in addition to expanding the area of agricultural land and productivity to achieve food security for Egypt, attracting more local and foreign investments to generate millions of sustainable jobs, while giving priority to local manufacturing programs to increase exports and Egypt’s foreign exchange earnings.

Fourthly, the president said the state seeks to adopt a comprehensive institutional reform aimed at ensuring financial discipline and achieving sound governance by rationalizing public expenditure, enhancing public revenues, and moving towards more sustainable paths for public debt. This is in addition to transforming Egypt into a regional hub for transportation and transit trade, new and renewable energy, and green hydrogen and its derivatives and boosting the economic role of the Suez Canal.

Fifthly, the state aims to leverage Egypt’s wealth of human resources by improving the quality of education for our children and continuing to activate programs and initiatives in order to improve citizen’s public health and complete the stages of the comprehensive health insurance project, the president added.

Finally, the state aims to continue the implementation of the strategic plan for urban development and complete the construction of new 4th generation cities, while developing major unplanned areas and completing the “Housing for All Egyptians” program, which primarily targets the youth and low-income families, the president said.

“The construction and consolidation of the pillars of the New Republic see growth and development everyday through the work and effort of our hands and our persistence that Egypt has the right to dream, its people have the right to a decent life, and its nation has the right to a great status among nations” Sisi accentuated.