Egypt to begin 2023 presidential elections
Three days of voting will begin today in the Egyptian presidential election.
The authoritarian Incumbent, President Abdel Fattah El-Sisi, is running against three low-profile candidates. However, the most popular opposition candidate, Ahmed Tantawi, was forced out after being prosecuted by authorities for alleged electoral irregularities in support of his electoral bid.
In the absence of any serious challengers, El-Sisi is almost certain to win another six-year term. Until this year, Tantawi was the last serious opposition figure who had not been prosecuted, jailed, or exiled. Given the repression of opposition figures who gain a national profile, El-Sisi’s grip on power is assured in the near-to-medium term.
However, El-Sisi’s strongman reputation is also based on a guarantee of economic stability and development. Egypt’s current economic malaise will challenge this stability. Sky-high inflation, stagnating wages, and high unemployment continue to debilitate an economy where blackouts are the norm.
El-Sisi will likely continue to rely on grand infrastructure projects like the new capital city to keep the economy afloat. However, these projects are financed by increasing foreign debt, and the military’s economic interest in winning many of the bids for these projects incentivizes more such projects. This will likely further increase inflation in the coming months.
