The Egyptian president, Abdel Fattah Sissi, announced his candidacy, yesterday, at the end of a three-day national conference called the “Story of Homeland” attended by the country’s leading politicians and broadcast by Egypt’s Extra News television channel, which has close ties to Egyptian security agencies.

“I have decided to nominate myself to you to complete the dream of a new presidential term,” Sissi said as the conference's attendees cheered and clapped.

Egypt will hold a presidential election over three days on December 10-12, with a runoff on Jan. 8-10 if no candidate secures more than 50% of the vote.

“I promise you, god willing, that it will be an extension of our common quest for the sake of Egypt and its people," Sissi said.

Egypt's presidential election will take place in December, rather than in the spring of 2024 as the Constitution allows, a deadline shortened by economic considerations in the country caught between inflation and devaluation, according to observers.

Sissi enters the race as the clear favorite.  He will be running at a time when purchasing power is steadily eroding in this country of 105 million inhabitants: inflation is running at 40%, the 50% devaluation in recent months has pushed up the price of goods.