Sisi vows to personally contribute to Egypt’s ailing economy

Photo: Sisi vows to personally contribute to Egypt’s ailing economy
 / Arabic region

Newly-elected Egyptian President Abdel Fattah al-Sisi said on Tuesday he is willing to give up half of what he owns to salvage Egypt's ailing economy, Al Arabiya reported.

Sisi's speech, which was mostly devoted to economic affairs, came at a military graduation ceremony in Cairo.

The president said he is ready to "cede half of what he owns," including his monthly allowance, which amounts to about $5,914.

He also asserted that Egypt's deteriorating economy, which had been massively affected by security and political upheavals in the country, required "sacrifices" from all Egyptians.

A decree issued last May by interim President Adly Mansour raised an Egyptian president's monthly salary to $2,957 (21,000 Egyptian pounds) and a similar sum in a monthly allowance for entertainment.

Two weeks after the decree, Sisi won presidential elections, less than a year after removing Islamist President Mohammad Mursi, a member of the Brotherhood.

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