CAIRO, Dec 24 (Aswat Masriya) - Egypt's president Abdel Fattah al-Sisi said on Saturday that the armed forces economic activity represents no more than 2 per cent of the country's economy.

He denied allegations that the armed forces' economic activity makes up to 50 per cent of the Egyptian economy, saying that "it's not possible".

Sisi made his statement at an event celebrating the expansion of El Nasr for Intermediate Chemicals, a military-owned company.  

He said that Egypt's economy is between EGP three-four trillion, of which the armed forces' economic activity makes up between 1.5 - 2 per cent.

The military plays a role in Egypt's economic activities but the exact weight of the military's economy has always been a subject of speculation.