Sisi: military accounts for 1.5-2% of Egypt economy

Egyptian President Abdel Fattah al-Sisi said Saturday that the military’s economic activity accounted for no more than two percent of the country’s output, dismissing suggestions that the military could control as much as half of the economy.

Speaking at an event celebrating the expansion of a military-owned company, Sisi said the military made up 1.5-2 percent of economic output which he said was 3-4 trillion Egyptian pounds ($160 billion-$213 billion).

That would put the military’s share of economic activity at between $2.39 billion and $4.26 billion.

Source: Reuters