El-Sisi claims that there is no money left for social services once he gets through paying debt installments, interest, and subsidies.
This statement falls directly in line with the requirements of the IMF, and Multinational corporations’ Neoliberal agenda in Egypt.
Since when is servicing the debt more important than the basic needs of the population? It isn’t THEIR debt. Why, for instance, can’t El-Sisi’s completely ludicrous statement to medical personnel to “give without waiting for a return” not be directed at predatory international lenders?
But El-Sisi has received massive amounts of money from the US, the Gulf, and international financial institutions, and that money is conditional. The conditions are basically, yes, to de-fund the public sector in order to smooth the way for privatization. Cancel subsidies, cancel public works, sell off all the functions of the state to private business, and so forth. In other words, accelerate the Neoliberal program that sparked the revolution to begin with.