Egypt speaker claims citizens at 'highest levels of happiness and prosperity'

Egyptian parliament speaker Hanafy El Gebaly has claimed Egyptians are living in utmost happiness despite the country suffering from a worsening economic crisis.

In a holiday message sent to President Abdel Fattah al-Sisi on Thursday, Gebaly said the Egyptian people have risen "to the highest levels of happiness and prosperity," and enjoyed "glory, strength, and security".

"The past few years have witnessed a flood of mega projects…to prove to the world that Egypt will remain a pioneering country, rallying around its president and implementing its dream projects," he said, adding that the "proud" people of Egypt stood behind Sisi as his supporters.

Projects such as the New Administrative Capital near Cairo have been widely criticised for being established through loans that have taken a heavy toll on the Egyptian economy.

The Egyptian pound has continued to plummet as inflation rises in the country of more than 100 million people, leaving many unable to afford basic commodities.

In recent months, the prices of meat, poultry and eggs have increased to the extent that poor and middle-class families have been forced to resort to vegetarian protein sources such as fava beans and lentils, which have also shot up in price. 

The country’s economy has been hit hard by the coronavirus pandemic, years of government austerity measures, and the fallout from the Russian invasion of Ukraine. Egypt is the world’s largest wheat importer, and most of its imports come from Russia and Ukraine.

Bread, freedom, social justice': Analysing Egypt's economic crisis https://t.co/CE9NPTCUYp

— The New Arab (@The_NewArab) April 30, 2022

The price of non-subsidised 'Aish Baladi', a type of flatbread, has more than doubled since the conflict in Ukraine began and currently shows no sign of abating.

Earlier this month, the International Monetary Fund approved a $3 billion support package for Egypt after a series of reforms by the country's central bank began in March, including a currency floating that has seen the Egyptian pound lose 58% of its value to the dollar since then.

However, many Egyptians are sceptical that this package will benefit them.