AGL 40.22 Increased By ▲ 0.22 (0.55%)
AIRLINK 131.00 Increased By ▲ 1.47 (1.13%)
BOP 6.80 Increased By ▲ 0.12 (1.8%)
CNERGY 4.63 No Change ▼ 0.00 (0%)
DCL 9.00 Increased By ▲ 0.06 (0.67%)
DFML 43.80 Increased By ▲ 2.11 (5.06%)
DGKC 84.05 Increased By ▲ 0.28 (0.33%)
FCCL 33.10 Increased By ▲ 0.33 (1.01%)
FFBL 78.80 Increased By ▲ 3.33 (4.41%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.90 Increased By ▲ 0.35 (0.32%)
HUMNL 14.77 Increased By ▲ 0.21 (1.44%)
KEL 5.45 Increased By ▲ 0.06 (1.11%)
KOSM 8.34 Decreased By ▼ -0.06 (-0.71%)
MLCF 39.75 Decreased By ▼ -0.04 (-0.1%)
NBP 61.09 Increased By ▲ 0.80 (1.33%)
OGDC 201.22 Increased By ▲ 1.56 (0.78%)
PAEL 26.83 Increased By ▲ 0.18 (0.68%)
PIBTL 7.87 Increased By ▲ 0.21 (2.74%)
PPL 161.00 Increased By ▲ 3.08 (1.95%)
PRL 26.84 Increased By ▲ 0.11 (0.41%)
PTC 18.57 Increased By ▲ 0.11 (0.6%)
SEARL 82.17 Decreased By ▼ -0.27 (-0.33%)
TELE 8.28 Decreased By ▼ -0.03 (-0.36%)
TOMCL 34.50 Decreased By ▼ -0.01 (-0.03%)
TPLP 9.15 Increased By ▲ 0.09 (0.99%)
TREET 17.18 Decreased By ▼ -0.29 (-1.66%)
TRG 61.00 Decreased By ▼ -0.32 (-0.52%)
UNITY 27.50 Increased By ▲ 0.07 (0.26%)
WTL 1.42 Increased By ▲ 0.04 (2.9%)
BR100 10,577 Increased By 170.3 (1.64%)
BR30 32,108 Increased By 395.1 (1.25%)
KSE100 98,455 Increased By 1127 (1.16%)
KSE30 30,630 Increased By 437.7 (1.45%)

CAIRO: Egyptians head to the polls on Sunday for a presidential election in which Abdel Fattah al-Sisi is poised to win a third term in power as the country grapples with an economic crisis and a war on its border with Gaza.

Victory would hand Sisi a six-year term in which immediate priorities would be taming near-record inflation, managing a chronic foreign currency shortage and preventing spillover from the conflict between Israel and Gaza's Hamas rulers.

Voting, which runs from 9 a.m. until 9 p.m. (0700-1900 GMT), is spread over three days, with results due to be announced on Dec. 18. Critics see the election as a sham after a decade-long crackdown on dissent.

The government's media body has called it a step towards political pluralism.

Three candidates qualified to stand against Sisi in the election, none of them high-profile figures.

The most prominent potential challenger halted his run in October, saying officials and thugs had targeted his supporters - accusations dismissed by the national election authority.

Authorities and commentators on tightly controlled local media have been urging Egyptians to turn out to vote, though some people said they were unaware when the election was taking place in the days before the poll.

Others said voting would make little difference.

"I was aware there are elections happening but I had no idea when. I only knew that because of the massive Sisi campaigns around the streets," said Aya Mohamed, a 35-year-old marketing executive.

"I feel indifferent about the elections because there will be no real change," she said.

As army chief, Sisi led the 2013 ouster of Egypt's first democratically elected president, Mohamed Mursi of the Muslim Brotherhood, before being elected to the presidency the following year with 97% of the vote.

He was reelected in 2018, again with 97%. Sisi and his backers say the crackdown was needed to stabilise Egypt and counter extremism.

Palestinians report Israeli battles in Khan Younis after US blocks Gaza ceasefire call

He has presented himself as a bulwark of stability as conflict has erupted on Egypt's borders in Libya, and earlier this year in Sudan and Gaza.

Economic pressures

But economic pressures have become the dominant issue for Egypt's fast-growing population of 104 million, with some people complaining that the government has prioritised costly mega-projects while the state takes on more debt and citizens struggle with soaring prices.

"Enough of projects and infrastructure, we want the prices to go down, we want for the impoverished to eat and people to have a living," said Imad Atef, a vegetable seller in Cairo.

Some analysts say the election, originally expected in early 2024, was brought forward so economic changes - including a devaluation of an already weakened currency - could be implemented after the vote.

The International Monetary Fund (IMF) said on Thursday it was in talks with Egypt to agree additional financing under an existing, $3-billion loan programme that had stalled due to delays in sales of state assets and a promised shift towards a more flexible exchange rate.

"All indicators suggest that we're going to move quite quickly after the election in terms of proceeding with the IMF reform," said Hany Genena, chief economist at Cairo Financial Holding, an investment bank.

Comments

Comments are closed.