Egypt president says his economic reforms are no 'picnic'

FILE -- In this Nov. 19, 2016 file photo, an Egyptian carries a basket of bread, in Cairo, Egypt. On Thursday, Dec. 8, 2016, Egypt's president defended the tough economic measures his government has undertaken, at a gathering of clerics ahead of the Prophet's Birthday, a major Islamic holiday, saying there was no alternative in the face of deteriorating economy. The remarks were the first by el-Sissi since the government's unprecedented floatation of the Egyptian pound, meant to ensure that Egypt qualifies for a 12 billion dollar loan from the IMF. (AP Photo/Amr Nabil, File) (The Associated Press)

FILE -- In this March 15, 2015 file photo, Egyptian President Abdel-Fattah el-Sissi speaks during the final day of a major economic conference, in Sharm el-Sheikh, Egypt. On Thursday, Dec. 8, 2016, Egypt's president defended the tough economic measures his government has undertaken, at a gathering of clerics ahead of the Prophet's Birthday, a major Islamic holiday, saying there was no alternative in the face of deteriorating economy. The remarks were the first by el-Sissi since the government's unprecedented floatation of the Egyptian pound, meant to ensure that Egypt qualifies for a 12 billion dollar loan from the IMF. (AP Photo/Thomas Hartwell, File) (The Associated Press)

FILE -- In this Wednesday, Dec. 7, 2016 file photo, Egyptian policemen are reflected in a car mirror as they sit near graffiti displayed on a wall in Cairo, Egypt. On Thursday, Dec. 8, 2016, Egypt's president defended the tough economic measures his government has undertaken, at a gathering of clerics ahead of the Prophet's Birthday, a major Islamic holiday, saying there was no alternative in the face of deteriorating economy. In his speech, the army-chief-turned-president also reiterated earlier warnings against any attempts to "topple the state." (AP Photo/Nariman El-Mofty, File) (The Associated Press)