Sisi's greatest task will be rebuilding Egypt economy

Egypt's former military chief Abdel Fattah al-Sisi is expected to romp home in this month's presidential election, but his challenge will be fighting poverty and rebuilding the shattered economy.
More than three years after millions of Egyptians demanding "bread, freedom and social justice" ousted strongman Hosni Mubarak, and later his successor Mohamed Morsi, nearly 40 per cent of the population -- some 34 million people -- live close to the poverty line.
Sisi should easily trounce his sole rival, leftist leader Hamdeen Sabbahi, in the May 26-27 election, to inherit an economy roiled by nearly 12 per cent inflation, unemployment of 13 per cent, falling investment and sliding tourism revenues.

Expectations from Sisi are high after he ousted Morsi last July following massive street protests demanding the Islamist's resignation.
Morsi, Egypt's first freely elected leader, was accused of ruining a dilapidated economy already hard hit since the 2011 revolt ended three decades of corruption-marred Mubarak rule.
Sisi, who has emerged as a nationalist icon in the mould of the country's revolutionary military ruler, Gamal Abdel Nasser, has called for "strengthening the role of the state which must monitor and remain engaged in the organisation and implementation of projects".

"He clearly sees a role for the army and state institutions in the economy which some businessmen consider as competition," said Mustapha Kamel al-Sayyid, professor of political science at Cairo University.

"For Mr Sisi, fighting poverty means depriving the Muslim Brotherhood of its popular support as it provides the poor with social services."
Sisi has warned the private sector that if he is elected the state would intervene to form a "mechanism" for controlling prices of some products to ensure the private sector "reduces its profit margins".
He said he aims to create new markets by providing low-cost products.
Strengthening state control worries many businessmen who spoke to AFP on condition of anonymity, despite saying Sisi offered guarantees to protect their interests.