• 01:30
  • Tuesday ,08 July 2014
العربية

Egypt President defends 'bitter pill' of recent price hikes

By-canada

Home News

00:07

Tuesday ,08 July 2014

Egypt President defends 'bitter pill' of recent price hikes

Egypt's President Abdel-Fattah el-Sissi has defended his recent decisions to partially lift subsidies on fuel, calling them a necessary "bitter pill."

In a nationally televised speech Monday, El-Sissi said he couldn't delay such decisions even if it cost him support because "the dangers are great" for Egypt's economy.
 
El-Sissi approved this weekend fuel price hikes as high as 80 per cent. The decision shocked many in the country where nearly 50 per cent live in poverty.
 
Likening the current conditions to times of wars with Israel, el-Sissi said Egypt is at war to rebuild following turmoil. He urged Egyptians to bear the austerity measures and appealed to the rich to donate to Egypt's development.
 
El-Sissi also warned that the region is witnessing a war in which "religion is used to destroy states."