El Sisi interviews with state press hit on foreign policy, economy: In a sit-down with state-owned newspapers this weekend, President Abdel Fattah El Sisi discussed relations with Saudi Arabia and Russia and the economy and the Army’s role in it, among other topics.

On the economy, the president sought to reassure the public that the IMF loan is a fundamentally good thing, reiterating that it was a testament to the strength of the economic reform program that Egypt was able to line up the USD 12 bn extended fund facility. El Sisi promised the Investment Law will be out by year’s end and that the national project to upgrade infrastructure, which he considers pivotal for investment, will be completed by 2018, four years ahead of schedule. El Sisi also outlined seven measures to tackle rising prices including: 1) reviewing ration card databases and eliminating those not eligible for support; 2) reviewing the social welfare and Takafol and Karama programs; 3) expanding the state’s network of subsidized food retailers, particularly in Upper Egypt; 4) curbing smuggling through stricter customs enforcement; 5) launching initiatives to curb electricity, natural gas and water consumption; 6) building up to six months’ worth of strategic reserves, and 7) ensuring domestically produced staples are widely available. Notably absent from the discussions was talk of devaluation.

The president noted that Egypt takes a balanced approach on foreign policy and is adamant of not interfering in the domestic affairs of other nations. The president discussed Egypt’s votes on UN resolutions on Syria and insisted that Egypt is not supporting the opposition in Ethiopia. El Sisi said Cairo’s relationship with Riyadh remains important and strategic and will not be impacted by recent events. Egypt has taken measures to ensure it is not wholly reliant on the Aramco fuel product shipments. Similarly, relations with Russia remain strong: The final Dabaa nuclear contracts are expected to be signed soon and we should expect direct flights to Egypt to also resume in the near term, El Sisi added.

El Sisi said the Armed Forces’ role in development projects will ease in the coming years as it completes the national project to upgrade infrastructure.

On security, El Sisi said he is more worried about domestic threats than international ones, noting that while the situation in Sinai is improving, “the war on terror is long” and that "the terrorists are evolving, but we are improving our operations.”

Read the full interview in Arabic in two parts: Part 1 and Part 2