The president of Egypt does a U-turn on economic policy

TACT IS NOT Abdel-Fattah al-Sisi’s strong suit. Egypt’s authoritarian president, who overthrew an elected government in 2013, lectures his citizens for being fat and spoiled and chides foreign leaders who mention his dismal human-rights record. In recent weeks he has aimed criticism at his own government. Inaugurating a new chemical plant on December 28th, the president observed that the state was not great at running the economy. “We need the private sector,” he said. “We have been proven incompetent in management.”Executives in Egypt were surprised by his comments, but not his conclusion. They have complained for years about unfair competition from state-owned firms, which enjoy tax breaks and other perks. The ever-expanding economic empire of the armed forces crowds out private firms.