President Abdel Fattah al-Sisi issued a stern warning to market speculators on Thursday, as the regional military escalation continues to pressure the Egyptian economy.
Addressing the nation, the President called on citizens to “maintain a spirit of responsibility” during what he described as a “near-emergency state.”
Strict market enforcement
Highlighting the economic fallout of the ongoing conflict, President Sisi emphasized that the current crisis must not be exploited for illegal price hikes, RT Arabic reported. In a major policy shift, he announced that he has directed the government to study the feasibility of referring price manipulators to military courts to ensure swift and decisive deterrence.
“We are in a near-state of emergency,” the President stated. “The essential needs of the people must not be subject to manipulation.” Despite the warnings, he offered a reassuring message to the public, adding, “Rest assured; by the grace of God, we are secure.”
Regional mediation efforts
Commenting on the broader war involving the US, Israel, and Iran, President Sisi characterized the rapid escalation as a “consequence of miscalculations and faulty estimates.” He reaffirmed that Egypt remains committed to its role as a “sincere mediator,” actively pursuing diplomatic channels to secure a ceasefire and halt the hostilities.
