Egypt: The billionaire who dares to criticize al-Sisi
Doron Peskin, Middle East Expert 22.11.2021
In a rather unusual move, Egyptian billionaire Naguib Swires voiced public criticism of the Egyptian regime. Swires with an estimated fortune of about $3 billion stated that government intervention in the economy was "unfair".
According to him, among others, the companies owned by the government and the army do not pay taxes compared to the private companies.
There is no doubt that this is a direct criticism of President al-Sisi, who since coming to power in 2014 has transferred billions of dollars to projects for the army, as part of strengthening his support.
Swires who is considered the richest man number 2 in Egypt (after his brother) explained that the current situation deters foreign investors from entering local projects.
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