Egypt's Sisi says military's economic activity 1-1.5 pct of GDP

Reuters
Egypt's President Abdel Fattah al-Sisi attends a news conference with Greek Prime Minister Alexis Tsipras and the Cyprus' President Nicos Anastasiades (unseen) at the El-Thadiya presidential palace in Cairo, Egypt, October 11, 2016. Picture taken October 11, 2016. REUTERS/Amr Abdallah Dalsh

CAIRO (Reuters) - The Egyptian military's economic activities are equivalent to just 1 to 1.5 percent of GDP and it is not looking to compete with the private sector, President Abdel Fattah al-Sisi said on Tuesday. Sisi, a former military general, has promised to revive the economy after assuming office in 2014 and has called in the army to assist in major infrastructure projects and with distribution of subsidised commodities to keep a lid on rising prices. "In case you're wondering how large the economy of the armed forces is in terms of GDP, I'm going tell you so it's clear: 1 to 1.5 percent," Sisi said at a national youth conference held in Sharm el-Sheikh. (Reporting by Ali Abdelaty; Writing by Eric Knecht; Editing by Catherine Evans)