As Egyptian stocks hit a six-year-plus high this week, the country's president told CNBC there was an air of optimism in the country, despite signs of social unrest.
"The optimism in Egypt is a result of a feeling of future stability and of a better tomorrow after a difficult period Egypt has been through over the last four years," Egyptian President Abdel Fattah Al-Sisi, told CNBC Thursday.
In a sign of increasing optimism in the markets, Egyptian stocks hit a six-and-a-half-year closing high on Wednesday. The economy is currently benefiting from the lower global oil price – which has declined around 60 percent since last June. This has helped to ease the country's trade balance and inflation.
Speaking to CNBC at the World Economic Forum in Davos, Sisi was confident the air of optimism would continue and that his government would "continue to strike a balance for development in the economic field but also in other areas."
Egypt seems to be making progress after a tumultuous four years. In 2011, the country was plunged into economic and political mayhem during the Arab Spring uprising in the region which saw former Egyptian President Hosni Mubarak ousted from power.
Mubarak was replaced by Mohamed Morsi, a leading member of the now-banned Muslim Brotherhood organization, who was later removed by the Egyptian military in 2013 as more secular Egyptians complained increasingly about Morsi's perceived restrictive and religious policies.
Sisi, the former head of Egypt's armed forces, was an instrumental figure in the government that took over power after Morsi was ousted and in May 2014, was the winner of the presidential election.
Since coming to power, Sisi has sought to reform Egypt's crippled economy which relies heavily on oil and gas, agriculture and tourism but Sisi's presidency is not without its detractors.
After several years of political tumult and social unrest, the authorities still appear keen to clamp down on spontaneous public displays of discontent and have enacted new security laws.
Human rights groups are now concerned about new laws brought in under Sisi that punish unauthorized demonstrations with up to five years in prison and hefty fines.
Sisi told CNBC that the media contributed to a certain impression of Egypt. "Protests in Egypt are not forbidden but unrest is very dangerous for Egyptian security and stability. There are 90 million people in Egypt who need to have a decent living and in order to do so, there has to be some element of stability and security."
He added that Egypt was facing a war on terror and extremism and the security equation had to take into account the balance between freedom to protest and security and stability.
- By CNBC's Holly Ellyatt, follow her on Twitter .