The Regime of Impoverishment and Concession Must Fall

Statement by the Revolutionary Socialists

Less than a week after Sisi gave up the Tiran and Sanafir islands to Saudi Arabia, the military dictatorship made another decision—to raise fuel prices. This will lead to higher prices for all goods and a further decline in the actual value of wages.

The regime’s decision is nothing more than a strict implementation of the International Monetary Fund’s agenda, with the submissive regime simply following orders and doing so with force. These two decisions highlight, once again, the regime’s internal and external capitalist leanings.

Externally, the regime is aligned with the United States and its regional allies—Saudi Arabia and Israel—to the point of surrendering part of Egypt’s land. Internally, it openly favors prominent businessmen and dutifully follows the IMF’s dictates.

This regime, propped up by the army and its state, has made its policies clear: eliminating subsidies on energy and services taking on more loans with political and economic strings attached, all while being burdened by high-interest payments starting next year. Meanwhile, the regime squanders money on meaningless projects.

After previous decisions like floating the currency and cutting subsidies—which reduced the value of Egyptians’ wages by half—Sisi’s latest move was to introduce a slight wage increase and raise the individual’s share of subsidized goods. However, the recent price hikes have quickly consumed and far outweighed these supposed gains, once again dipping into the pockets of people experiencing poverty and dragging living standards down even further.

The latest wave of price hikes hits the poor the hardest—doubling the price of a cooking gas cylinder by 100% and increasing diesel and 80-octane gasoline prices by 55%. At the same time, Sisi continues his assault on genuine labor organizations.

But this nightmare of rising prices will not end here. Prices will keep going up unless the most affected people step up and take action. This suffering will continue unless workers, professionals, and all working groups organize and prepare for a confrontation.

Sisi and his regime rely on fear and brute force to push through these disastrous decisions. But the options are clear: either challenge this regime and fight for a dignified life or be condemned to a life of hunger and oppression.

The Revolutionary Socialists support any protest against the capitalist policies of Sisi’s regime. We reaffirm our rejection of IMF loans and their harmful economic consequences.
In the face of these harsh economic measures, we call for coordination between political forces and labor and professional unions. Together, they must rally around a program that addresses the needs of people experiencing poverty, ensuring fair wages that keep pace with rising prices and demanding accurate services. It’s time to confront the austerity measures Sisi has imposed.

A wave of widespread anger is building in response to the regime’s policies. It’s time for this anger to be unleashed and put an end to the nightmare of hunger, impoverishment, and the selling out of our country.