Egypt’s President Abdel Fattah Al-Sisi has asked people to support a recent decision to raise petrol prices, saying it is only with their participation that the government can accomplish the toughest tasks.

In a televised speech to mark the 41st anniversary of the Ramadan 10th victory, he said the recent economic decisions were meant only to serve the interests of the country.

Explaining that the decision to restructure subsidies might have been untimely and might have adversely affected his popularity, Sisi said this decision is “a must” to salvage the country and safeguard it against grave risks.

Budget deficit

Sisi mentioned that without this decision, the budget deficit for this fiscal year would have been over 300 billion EGP ($42 billion).

The government’s decision to raise the fuel prices by up to 78 per cent has angered people.

Sisi also issued recently a decree imposing progressive taxes, wealth taxes and real estate taxes as steps for covering the budget deficit and increasing tax revenue.

10th day of Ramadan

He hailed the triumph of the Egyptian army over Israel on October 6, 1973, which coincided with the 10th day of Ramadan, and emphasised that the most distinguishing feature of that success was the genius decision to launch the war.

He made a special reference to the rallying of the people behind the army during that war.

“The October 1973 war broke the Egyptians’ and Arabs’ barrier of fear,” he said.

Sisi said he had warned more than a year ago that terrorism would spread in the region and that that matter should have been of concern not only to the Arabs but also to the international community at large, the Middle East News Agency (MENA) reported.

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