El Sisi urges Egyptian industrialists to locally manufacture what they import – The National

El Sisi urges Egyptian industrialists to locally manufacture what they import – The National

President Abdel Fattah El Sisi on Saturday urged Egyptian industrialists to manufacture components they currently import, warning that the country’s import bill was rising every year.

The Egyptian leader said the country's present “dollar crisis” has laid bare some negative realities about the economy, which has been battered by the fallout from Covid-19 and now the Russia-Ukraine war.

“The dollar crisis has been revealing. Our dollar (import) bill increases year after year and it’s not about importing luxury good. It reflects the evolution of the Egyptian economy,” he said.