Other aspects of Morsy's edict are likely to prove popular with many of those who have taken to the streets against him. In his decree, Morsy also announced that all deaths and violence connected to the uprising against Mubarak would be reinvestigated, with those responsible retried if necessary.

This raised the possibility that Mubarak, currently serving a life prison term, could be reprosecuted, along with a number of regime figures who were previously acquitted.

Some Egyptians have expressed disappointment that security forces and officials have escaped punishment over last year's violent crackdown on protestors.

Morsy also sacked the prosecutor-general in his declaration, and extended the timeline for drafting the constitution by two months.

But while those resolutions may be welcomed by many, the unilateral manner in which Morsy has gone about expanding his powers has alarmed many.

"It's the way he's doing it that has gotten people upset, because it reminds them of the way Mubarak used to govern," Peter Jones, a Middle East expert at the University of Ottawa, told CNN.

According to reports, one popular slogan during the current protests has been "Morsy is Mubarak."

If Morsy's new powers are only temporary, why the outrage?

Firstly, there is no guarantee that Morsy will relinquish power as promised.

Secondly, even if Morsy rescinds the decree after the constitution is finalized, protesters fear that he will have used the edict to hijack the process of drafting the new constitution, producing a document that reflects his Islamist vision and consolidates his power in the new Egypt.

Liberal, left-wing and Christian members of assembly have boycotted the body over concerns that Islamists are dominating the process.

"By the time you get that new constitution, it will have been written by an Islamist-dominated assembly that all non-Islamists have completely abandoned, and the new parliamentary elections will likely exclude members of the former ruling party who posed the greatest threat to his authority," Eric Trager, a fellow at the Washington Institute for Near East Policy, told CNN.

What is happening with the constitution now?

Despite the extended deadline to complete the framing of the constitution, the assembly charged with crafting the document rushed to produce a finalized draft on Friday, after a marathon 21-hour negotiation session through the night.

The 234-article draft will go before the public for a vote within 15 days; if it passes the referendum, Morsy says the decrees would be lifted.

Some critics have seen the move as a successful attempt by Islamists to "hijack" the constitution. Others see the hurried drafting of the document as a strategy to defuse the crisis: The passing of a new constitution could bring an end to Morsy's new provisions without requiring him to back down.

"This could be a way for him to get out of this debacle without reversing his decree and decisions," Aly Hassan, a judicial analyst affiliated with the Ministry of Justice, told CNN.

What does the drafted constitution say?

The draft constitution maintains the principles of sharia as the main source of legislation - a position unchanged from the constitution under Mubarak.

But critics fear it could lead to excessive restrictions on certain rights.