Egyptian President Abdel Fattah el-Sisi announced Monday he will seek another term in the upcoming December presidential election.

El-Sisi confirmed his widely expected candidacy at a national conference, saying he accepted the nomination to continue working towards Egypt’s development. The vote was recently moved up from 2024 to address pressing economic challenges.

The incumbent president will face little meaningful competition as he pursues a third term. He was reelected in 2018 after constitutional changes allowed him to extend his presidency.

Egypt faces mounting economic headwinds that are squeezing household finances. Inflation has soared past 40% as the currency lost 50% of its value, forcing the early election.

While El-Sisi depicts himself as indispensable to stability, his next term faces significant policy challenges to rescue the economy from crisis. With no real challengers, he is widely expected to easily secure reelection.