Egyptian President Abdel Fattah al-Sisi said that the US dollar was worth 6 Egyptian pounds in 2011, but is now worth 50 pounds, pointing to measures that led to the significant drop in the value of the pound.
In a speech during the inauguration of the state's strategic command headquarters on Saturday, Sisi explained that the events of 2011 caused the state to lose billions of dollars and led to "the deterioration of people's conditions" rather than their improvement.
He said: "What happened and caused the state to lose $450 billion is a message to every citizen, intellectual, and young person to realize the seriousness of any action that may lead to the deterioration of people's conditions, rather than improving them."
Sisi called on state officials to clarify matters to the people and tell the truth "without shame," noting that the state has been waging a war against terrorism since 2012, in which it has lost hundreds of billions, in addition to the martyrs and wounded who fell as a result of terrorist acts.
He stressed the importance of "recalling lessons and morals so that mistakes are not repeated."
He spoke about the state facing a great danger and a state of ruin and chaos in 2013, and the Muslim Brotherhood members besieging state institutions; therefore, the idea of establishing a new capital and moving state institutions to it came about.
He explained that the state’s strategic leadership is located in the new capital, because “one day the Constitutional Court and the Cabinet were besieged, the Ministry of Defense was threatened, and Media Production City was besieged,” noting that this siege was aimed at “managing the crisis under pressure and fear, which affects the decisions.”
He continued: "The state had to leave the capital and not allow this to happen again," stressing that "the evildoers and terrorists will not stop, and we must take precautions and ensure that the Ministry of Defense, Parliament, and Cabinet are not located there (in Cairo)."
On Saturday, Sisi inaugurated the strategic command headquarters in the new capital, in an official ceremony that included a majestic military parade in which formations from various branches of the Egyptian army participated.
The opening ceremony included a military parade and displays of modern forces, weapons and equipment, in the presence of senior state officials and leaders of the armed forces. President Sisi watched the military displays, which highlighted the high level of combat readiness and efficiency of the Egyptian armed forces.
