This, of course, is a triumph of neoliberalism. The more the policy is enforced, the worse the economy will become.
It can only be regarded as a failure of the regime if you mistakenly believe that the regime is interested in the overall health of the Egyptian economy. It isn’t. if the regime implemented policies that were beneficial to Egypt, it would be replaced by its owners.
The Empire of capital expands by creating weak, indebted economies which can be easily enslaved.
It is Sisi’s function to impose the dictates of international business, which means to create the economic conditions of a failed state. As long as he can successfully deliver Egypt into slavery, he can keep his job, and he will be among the local elites who will prosper.
They will continuously reiterate that Egypt is facing economic crisis to justify the intensification of subservience to foreign investors. This subservience will, of course, intensify the crisis.
External Context سياق خارجي
https://www.middleeastmonitor.com/news/africa/19811-egypt-faces-major-economic-crises