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El-Sissi tapped Madbouly to form the new government last month. The new Cabinet includes four women and several technocrats. It comes three months after el-Sissi was sworn in for his third term.
Egypt’s new Cabinet was sworn in in Cairo with a lot of expectations amidst a set of economic challenges being faced by the Northern African country.
El-Sissi tapped Madbouly to form the new government last month. The new Cabinet includes four women and several technocrats. It comes three months after el-Sissi was sworn in for his third term.
Prime Minister Mustafa Madbouly, who has been in office since 2018 and has been reinstated by the President, has carried out some key changes in the cabinet while retaining some ministers. While changes took place in the defense and economy-related portfolios, those in charge of police, health, and transportation, are unchanged. Among the challenges being faced by the country is spiraling inflation. A Western-backed reform program – adopted in 2016 and backed by President Abdel Fattah el-Sissi – has caused prices to soar due to austerity measures. Nearly 30% of Egyptians currently live in poverty, according to official figures.
Mohamed Maait, the country’s finance minister since 2018, was replaced by his deputy Ahmed Kouchouk, a former World Bank economist. Ahmed Kouchouk played a major role in implementing a reform program with the International Monetary Fund. Earlier this year, the government floated the pound and sharply increased the main interest rate. Commercial banks are now trading the U.S. currency at more than 47 pounds, up from about 31 pounds.
The dearth of FDI is also a major problem being faced by the country despite the efforts being made to attract investors. Attacks by Yemen’s Houthis on shipping routes in the Red Sea have slashed Suez Canal revenues, affecting the revenue flows in the country.
The tourism sector is also on the back foot still recovering completely from the pandemic, which has decimated the segment. There are some signs of recovery but not on the expected lines. In the new Cabinet, Sherif Fathy, a former civil aviation minister, replaced Ahmed Issa as Tourism and Antiquities Minister in the new government.
Another main point of contention is the recurring power cuts during the soaring heat of summer in the country of over 106 million people. Consequently, Mahmoud Esmat was named to oversee the electricity ministry.
Badr Abdelatty, who has acted as Egypt’s envoy to European countries including Germany and Belgium, has been named Foreign and Migration Minister. The 58-year-old diplomat replaced Sameh Shoukry, 72, who led the country’s diplomacy for the past decade.
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Also, General Abdel-Majeed Sakr replaced Gen. Mohamed Zaki who was on top of the defence portfolio since June 2018.The ministers, their deputies, and provincial governors took the oath in a presidential palace in Cairo before el-Sissi, elected in December for a third six-year term.
