Sisi raised fuel prices by between 40 to 78 percent, as per IMF demands for the benefit of big business and foreign investors.
Sisi imposed an increase in electricity tariffs as per IMF demands for the benefit of big business and foreign investors.
Sisi slashed subsidies for medicine for the benefit of the pharmaceutical industry and foreign investors.
To assure investors that increased public spending on healthcare in Egypt would not diminish the market share of private companies, a recent GlaxoSmithKline report to investors confirmed, ” the government is pledging to involve the private sector in every aspect of the economic reform process”.
GSK operates in Egypt through its 91%-owned subsidiary GSK Egypt, selling 90% of its drugs domestically. Pfizer has $105 million worth of capital investments in Egypt. Manufacturing companies hold 49% of the US non-petroleum capital in Egypt, with pharmaceuticals being one of the top recipients.
Sisi slashed subsidies for children’s dairy products by half for the benefit of companies like Almarai and Pepsico, who are poised to take over the entire dairy sector in Egypt.
There is not a single aspect of Sisi’s policies that is not completely in-line with the demands of the IMF and in the interests of international business and foreign investors, while uniformly AGAINST the interests of the Egyptian people. This does not tell you anything particularly useful about Sisi, but it should tell you something about the extent of the power structure that controls him; the actual power structure that is controlling Egypt; the actual power structure that needs to be confronted.