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New SWP Comments on Al-Sisi's Development Visions
In his latest SWP Comments “Al-Sisi's Development Visions – Projects and Power in Egypt”, Stephan Roll presents in broad lines the development visions of the newly elected Egyptian president who is facing great challenges: the country's economy is in ruins and living conditions have tumbled over the past three and a half years. Instead of announcing comprehensive economic reforms, al-Sisis proposed gigantic development projects during his election campaign.
Here the former army chief has a particularly firm eye on the interests of his most important supporters, Stephan Roll argues, namely the Gulf donors (United Arab Emirates, Saudi Arabia and Kuwait), the Egyptian military, and the Egyptian business elite. However, the population at large is losing out as the planned major construction projects will not improve Egypt's economic and social situation and do nothing to improve the precarious living conditions of most Egyptians.
Structural reforms in the Egyptian economy are needed, according to Stephan Roll, and Germany and the European Union should do considerably more to promote budgetary transparency and effective market oversight.
To read the full SWP Comments "Al-Sisi's Development Visions - Projects and Power in Egypt", please click here.
Photo courtesy of Muir.