Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
CAIRO (AP) — Egypt's president says he'll protect poor and middle-class Egyptians hard hit by his government's austerity measures.
The remarks are the first on economy by Abdel-Fattah el-Sissi, following rare anti-government protests earlier this month believed to have been partly driven by economic hardship. The protests triggered a sweeping security clampdown.
El-Sissi tweeted late Sunday that measures are underway to "protect the rights of the people" adversely impacted by slashing subsidies. He didn't elaborate.
El-Sissi's ambitious reform program, launched in 2016, aims at overhauling the country's ailing economy. The government has also floated the currency and substantially cut subsidies.
The austerity measures have taken a heavy toll on poor and middle-class Egyptians. The official statistics agency reported in July that one in three Egyptians is living in poverty.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
