The President of Egypt has arrived as the Chief Guest on the Republic Day of India. The President is accompanied by a 120-member contingent that will march on duty in the parade on January 26.
oi-Sanjay Kumar Jha
Egyptian President Abdel Fattah el-Sisi has reached Delhi. He will attend the Republic Day parade on January 26 as the chief guest. This is the first time that the President of Egypt has arrived as the Chief Guest on the Republic Day of India. The President is accompanied by a 120-member contingent that will march on duty in the parade on January 26. During his visit, he will also call on Egyptian President Abdel Fattah El-Sisi, President Draupadi Murmu, Prime Minister Narendra Modi and External Affairs Minister Dr. S. Jaishankar.
During his visit, he will also meet President Droupadi Murmu, Prime Minister Narendra Modi and EAM Dr S Jaishankar. pic.twitter.com/hH1q4eHHga
— ANI (@ANI) January 24, 2023
Egypt facing severe economic crisis
Let us tell you that Egypt is currently facing a serious economic crisis. Egypt’s inflation has risen to 24.4 percent. With this, the external debt has increased to around $170 billion. India has helped an isolated Egypt. India has provided wheat to Egypt at concessional rates. Many observers and international financial institutions have warned that Egypt could be headed for an unprecedented economic crisis, up to bankruptcy.
President’s policies caused damage
Egypt has gone to the IMF three times since 2016 for a loan. IMF has also given loan to this Muslim country on strict conditions. Due to the condition of the IMF, the Egyptian currency pound has declined heavily and has lost up to half its value. Foreign investment in Egypt has also decreased drastically as Sisi has severely damaged the private sector due to his misguided economic policies. The military and government companies dominate the Egyptian economy. Egypt currently has a debt of more than $ 155 billion, the repayment of which consumes a third of its national income. The Corona epidemic, the Russia-Ukraine war have had a bad impact on Egypt’s tourism.
Egyptian President Abdel Fattah El-Sisi arrives in Delhi. He will attend the #RepublicDayParade as the Chief Guest.
During his visit, he will also meet President Droupadi Murmu, Prime Minister Narendra Modi and EAM Dr S Jaishankar. pic.twitter.com/C57hz0Jxls
— ANI (@ANI) January 24, 2023
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Egyptian President Abdel Fattah El-Sisi arrives in Delhi
Story first published: Tuesday, January 24, 2023, 19:47 [IST]