Egypt’s President Abdel Fattah el-Sisi is seeking a third term in office as he faces an upcoming election on December 10. Despite economic challenges, analysts predict that el-Sisi will likely win the election, as critics languish in jail and opposition remains in disarray.
The economy in Egypt is struggling, with public debt exceeding 88% of the country’s GDP and inflation consistently above 35%. Many Egyptians are searching for second jobs and cutting back on household spending. Additionally, domestic production struggles to meet the demand, and the poverty rate has reached approximately 30%.
The government has pushed ahead with mega projects and received support from foreign partners, including the United Arab Emirates, Saudi Arabia, and the IMF. However, the Egyptian pound has plummeted, and debt repayments are due to start next year, with analysts expecting austerity measures to follow the election.
In terms of regional influence, some analysts believe that Egypt’s relevance has declined while others point to its successes in combating armed groups and its role as a regional powerbroker.
Despite the challenges, Egypt is receiving support from various nations and global organizations, reflecting the mood among Egypt’s backers in the US, Europe, and the Gulf. This support may give Egypt an outsize influence in pushing for aid to enter Gaza.
Overall, while el-Sisi is expected to win another term, the economic crisis and regional conflicts present significant challenges for Egypt in the coming years.