CAIRO, May 5 (Aswat Masriya) – Egypt's president Abdel Fattah Sisi said on Thursday that he will announce next month what he described as the "unprecedented achievements" made over the past two years.  

Sisi made the announcement during a speech on Thursday marking the start of the wheat harvest season in the 1.5 million feddans project in Farafra Oasis located in Egypt's Western Desert.

The "Million Feddans" project is a national project that has come at the forefront of Sisi's agenda since he assumed office in June 2014.

The first phase of the project aims to expand Egyptian farmland by 20 per cent, as the government seeks to cover Egypt's needs of grains and forage.

Egypt is the world's largest wheat importer. The local wheat season started on April 15, with the government having announced plans to buy 4 million tonnes of Egyptian wheat.

Sisi's economic policies have been met with mixed reactions, with some analysts saying that mega-projects could potentially boost the economy while others remain skeptical of these projects' revenues and economic impact. 

Among the mega-projects is the "New Suez Canal project" launched in August, which entailed the construction of a 34-km-long canal parallel to the current Suez Canal in addition to deepening and widening the original canal. The expansion aimed to double daily traffic and increase annual revenue.

However, revenue figures over the past months have shown a steady decline, contradicting forecasts made at the start of the project. Revenue fell in February to EGP 3.108 billion compared to EGP 3.179 in January, Reuters reported.  

Additionally, annual revenue for 2015 showed a decline of 29 million to reach EGP 5.175 billion compared to the previous year.

Sisi dismissed the reported decline in Suez Canal revenue, asserting the contrary that revenues have been increasing since the launch of the project. The president however did not state exact figures of the alleged increase.

The Suez Canal Authority forecasts an increase in revenue to reach EGP 13.2 billion by the year 2023.

Sisi took office a year after the military ouster of former president Mohamed Mursi following mass protests against his rule. During that time, the military headed by Sisi gave Mursi a seven-day ultimatum to meet the people's demands or face an imminent ouster.