Sisi narrowly misses 100 % vote in Egypt’s controversial prez poll

Al Jazeera
April 3, 2018

In a result that comes as no shock to Egyptians and the rest of the world, Abdel Fattah el-Sisi has won the presidential elections with 97 percent of the votes, final results showed, securing another four-year term.

The elections were criticised as a one-man show with no credible opposition, as at least six other candidates pulled out, were prosecuted, or jailed.

Announcing the final results on Monday, Egypt's election commission said there had been a 41.5 percent turnout, lower than the 47 percent in the 2014 election.

The only other opponent who ran against el-Sisi was little-known Mousa Mostafa Mousa, who entered the race hours before the deadline and whose party had previously endorsed el-Sisi.

Preliminary results released on Thursday showed that Mousa had received just three percent of the vote, and according to The Economist, came in third place after more than one million people spoiled their ballot papers.

Some had crossed out the names of the two candidates and added the name of popular Liverpool and Egyptian national football player, Mohamed Salah, reportedly giving him twice as many votes as Mousa.

Yet the results were revised the next day to suggest that there were no spoiled ballots.

"The elections were a joke and a complete fabrication," Sarah Yerkes, a fellow at the Washington-based Carnegie Endowment for International Peace, told Al Jazeera. "They are not really a meaningful marker for the country."

'Further pain in store for Egyptians'

El-Sisi's first term in office, which he won after the military removed then-President Mohamed Morsi from power, was characterised by promises he failed to deliver on, such as eradicating "terrorism" and improving the country's economy.

Gulf countries, most notably Saudi Arabia and the United Arab Emirates, pumped billions of dollars of investments into Egypt when el-Sisi first took office, but that was paralleled by "unprecedented levels" of suppression, James Gelvin, professor of Modern Middle East History at the University of California, Los Angeles, told Al Jazeera.

"The quick infusion of cash did nothing to alleviate the Egyptian economic crisis in the long term, which is the result of poor economic planning, cronyism, and demographic explosion," he said.

The economic crisis in Egypt will be el-Sisi's priority during his second term in office, at the cost of plunging the population into further misery, Galvin said.

The professor cited a number of factors that currently afflict the economy, saying they will likely worsen, such as high unemployment rates, the curtailment of food and fuel, unprecedented income inequality, and plutocratic rule.

"In a world in which neoliberal economic policies are the sole prescription for national economies in crisis, there is only further pain in store for Egyptians," he said.

"When [former presidents] Sadat and Mubarak attempted to impose neoliberal polices, popular revolt – called IMF riots - ensued," he said.

"Under these circumstances, Sisi will undoubtedly continue the harsh repression, probably citing the threat of terrorism as the reason."

Loyalist base

The 63-year-old former commander-in-chief of the armed forces maintains a loyal base of supporters, who view him favourably as a force for stability rather than democracy.

"No one believes he is a democrat," Sarah Yerkes said. "Rather, many Egyptians are happy to sacrifice democracy if it means greater economic performance, stability, and security.

"The problem with that argument," she added, "is that Egypt's economy and security situation have both deteriorated under Sisi's authoritarian rule - not improved."

According to Gelvin, Sisi relies on continued support from the "deep state" - which includes the military, the bureaucracy and the judiciary - and its supporters.

Furthermore, the president's influence is not just contingent upon domestic support but depends on regional and international support that hinges on maintaining the status quo in the region - most notably from Saudi Arabia and the United States.

"Sisi will stay in power so long as the deep state wields the influence it does, and he continues to cow the remainder of the population," Gelvin said.

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Agencies
January 21,2020

New Delhi, Jan 21: With the IMF lowering India's economic growth estimate for the current fiscal to 4.8 per cent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent.

He also alleged that the growth figure of 4.8 per cent given by the International Monetary Fund (IMF) is after some "window dressing" and he won't be surprised if it goes even lower.

"Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent," Chidambaram said in a series of tweets.

"Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower," the former finance minister said.

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

"I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath," Chidambaram said.

The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

In October, the IMF had pegged India economic growth at 6.1 per cent for 2019.

Listing decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts, Gopinath, however, had said the growth momentum should improve next year due to factors like positive impact of corporate tax rate reduction.

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News Network
May 6,2020

Singapore, May 6: Oil prices slipped back Wednesday after two days of gains, although Brent crude remained above $30 a barrel, as renewed US-China tensions offset optimism about the easing of coronavirus lockdowns.

Brent, the international benchmark, fell 1.1 per cent to $30.63 a barrel in early Asian trade. On Tuesday, the contract surged 14 per cent and rose above $30 for the first time since mid-April.

US marker West Texas Intermediate slipped 1.9 per cent and was changing hands for $24.13 a barrel.

Oil markets have been battered as the virus strangled demand due to business closures and travel restrictions, with US crude falling into negative territory last month for the first time.

They started rallying strongly this week as countries from Europe to Asia ease curbs and economies start shuddering back to life.

But gains were capped Wednesday as dealers follow a brewing US-China row after Donald Trump hit out at Beijing over its handling of the outbreak, saying it began in a Wuhan lab, but so far offering no evidence.

"Traders are incredibly cautious this morning, weighing all the possible China responses," said Stephen Innes, chief global market strategist at AxiCorp.

"And the one that would hurt the most would be for China to reduce imports of US oil."

This week's rally was in part driven by a deal agreed between top producers to reduce output by almost 10 million barrels a day, which came into effect on May 1.

There have also been signs that the massive oversupply in the market is starting to ease as demand slowly comes back.

Energy data provider Genscape said earlier this week that stockpiles at the main US oil depot in Cushing, Oklahoma had increased by only 1.8 million barrels last week following weeks of major rises.

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News Network
July 14,2020

Brasilia, Jul 14: Brazil has reported new 20,286 coronavirus cases in last 24 hours taking the country's total to 1.8 million, Sputnik reported citing the health ministry.

The country's death toll has increased by 733 in the same period of time. The death toll from the infection has touched 72,833.

Over 1.1 million people have recovered from COVID-19 in Brazil since the start of the epidemic in the country, according to the health ministry.

Brazil has the second-highest coronavirus death toll, it is surpassed only by the United States.

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