Written by: Basant El-Farmawy
President Abdel Fattah El-Sisi emphasized that the current prices of petroleum products and electricity do not reflect the actual economic cost, pointing out that the state is forced to sell energy to citizens at prices lower than its true cost, amid escalating financial burdens and pressures resulting from geopolitical challenges affecting the national economy.
Financing Challenges and the Global Energy Crisis
The President explained, during his participation in the events of the Egypt 2026 Forum, that the state faces significant challenges in its ability to pay energy costs given current price levels. He added that the fundamental challenge lies in the massive volume of financing required to cover these costs and find sustainable sources to provide it, noting that the energy crisis is primarily a global crisis.
El-Sisi stressed the importance of citizens' awareness of the true cost of energy, considering that current challenges exceed the capabilities of the government and the president alone, but at the same time are not greater than the citizen's capacity to comprehend and deal with them. He expressed his keenness to build public opinion that understands the nature of economic conditions and the volume of pressures the state is going through.
Vision on Governmental Performance and Problem Solving
In a related context, President El-Sisi addressed the criticism directed at ministers via media outlets and social media platforms, pointing out his observation of a state of sadness affecting government members due to what is being circulated. He explained that changing ministers is not the radical solution to existing problems, affirming that if changing the government would lead to solving the crises, this decision would have been taken immediately.
The President concluded his speech by pointing to political concepts that promote changing governments as a means to shirk responsibility, emphasizing that the responsibility placed upon him represents a heavy trust, especially in light of the economic and geopolitical complexities the country is experiencing.
