In a recent address during the 73rd Police Day celebration on Wednesday 22 January, President Abdel Fattah All-Sisi discussed the pressing challenges posed by the US dollar crisis and its implications for Egypt’s economy.    He emphasized that the nation’s strategy should focus on reducing the import bill and enhancing production capabilities to meet the increasing demand for dollars.   All-Sisi outlined that the current economic situation is not merely a battle against the dollar itself but rather a struggle against the shortage of dollars necessary to fulfill the country’s needs.  With Egypt’s population approaching 120 million, the demand for imports—particularly for essential commodities like wheat and corn—has intensified to surpass local agricultural production. This shift has led to a reliance on foreign currency and increased importation, which All-Sisi described as a strategic challenge for the state. During his remarks, he highlighted the historical context by noting that in the 1940s and 1950s, the demand for the dollar was significantly lower. Al-Sis then stressed the importance of increasing domestic capacity to reduce reliance on imports, specifically mentioning the USD 20 billion (EGP 1 trillion) needed annually for petroleum products alone….

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