(VOVworld) - Newly-elected Egyptian President Abdel Fattah al-Sisi said Tuesday he is willing to give up half his salary and property and called on the Egyptian people to make similar sacrifices to salvage Egypt’s ailing economy.

Egyptian President Abdel Fattah al-Sisi attends the graduation ceremony of the Air Force Academy in Cairo, in this June 22, 2014.

Speaking at a televised military graduation ceremony, Sisi said he will take a maximum salary of 5,900 USD and donate half of the property he inherited from his family for the sake of the country. He called on Egyptians inside and outside the country to make personal sacrifices, stressing that this is the time for all citizens to express their solidarity and give priority to their homeland. Sisi refused to sign the proposed 2014-2015 budget which raises the public debt to two trillion Egyptian pounds from the current 1.7 trillion pounds and demanded new budget. Sisi wants further austerity measures, including subsidy reductions, to allow for drastic reform of an ailing economy.