Egypt has promised the International Monetary Fund it will roll back the state's involvement in the economy and allow private companies a much greater role, yet several recent moves show it continuing to expand its holdings and tighten its control.
"A lot of it is actually a justification for a massive state intervention in sectors that are supposedly strategic," said Yezid Sayigh, a senior fellow at the Carnegie Middle East Center in Beirut.
Licence applications under the measure could take up to three months and would impose new fees on applicants. "They want others to help the state with its financial burden, but it's still the state that determines priorities and investments," he said.Future asset sales will be complicated by an expansion under Sisi of the military's often opaque economic role, analysts say.
In return for new finance, Gulf states have been attaching more conditions than in the past, including a demand for economic reforms in line with IMF recommendations.
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