Former Egyptian army chief Abdel Fattah al-Sisi won a landslide victory in a presidential election yesterday but a low turnout threatened to deprive him of the strong mandate he needs to fix the economy and face down an Islamist insurgency.
Sisi won 93.3 per cent of votes cast, judicial sources said, with most ballots counted after three days of voting. His only rival, leftist politician Hamdeen Sabahi, gained three per cent while 3.7 per cent of votes were declared void.
But a lower-than-expected turnout figure raised questions about the credibility of a man idolised by his supporters as a hero who can deliver stability.
The stakes are high for Sisi in a country where street protests have helped topple two presidents in three years.
Since a series of television interviews he gave ahead of the vote, many Egyptians feel Sisi has not spelled out a clear vision of how he would tackle Egypt’s problems, instead making a general call for people to work hard and be patient.
He has presented vague plans to remedy the economy, suffering from corruption, high unemployment, and a widening budget deficit aggravated by fuel subsidies that could cost nearly $19 billion in the next fiscal year.
“All in all the weak turnout will make it harder for Sisi to impose painful economic reforms that international institutions and investors are demanding,” said Anna Boyd, an analyst at London-based IHS Jane’s.
Investors want Sisi to end energy subsidies, impose a clear tax regime and give guidance on the direction of the exchange rate.
Turnout was about 46 per cent of Egypt’s 54 million voters
Turnout was about 46 per cent of Egypt’s 54 million voters, the government said, less than the 40 million votes, or 80 per cent of the electorate, that Sisi had called for last week.
It was also less than the 52 per cent turnout secured in the 2012 presidential election by Mohamed Morsi, the Islamist leader Sisi ousted last year after mass protests against his rule.
A Reuters tour of polling stations suggested turnout was low. Many Egyptians said voters had stayed at home due to political apathy, opposition to another military man becoming president, discontent at suppression of freedoms among liberal youth, and calls for a boycott by Islamists.
“These elections were just an act, a farce,” said Mahmoud Ibrahim, 25, a resident of the sprawling Imbaba district who did not vote. “Turnout was low, but the media will lie to the people, all for the sake of the one man.”
Sabahi conceded defeat but rejected the official turnout figures as too high, calling them “an insult to the intelligence of Egyptians.”
The stock market, which fell 2.3 per cent on Wednesday as some players said the turnout was a disappointment, closed down 3.45 per cent yesterday, after the finance minister approved a 10 per cent tax on stock market profits. On the black market, the Egyptian pound weakened slightly.