The Egyptian Economy

What caused the deterioration of the Egyptian Economy from the view of Egyptians over 40?

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Abstract

Economic analysts elucidate that the economy of Egypt has been experiencing a downward trend since the year 2011 when revolution took a center stage in the shaking Egyptian political system. As a result of the weak economy, the real GDP growth of Egypt stood at an average of 1.2 % during the 2011-2012 fiscal year. Consequently, there was a higher level of consumption and increased government expenditure coupled with declining investments. Also, the unstable political system gave rise to insecurity due to the absence of well-maintained law and order. This further hampered investment projects which form the

He asserts that all Egyptian sectors were hardly hit by the political turbulences leading to a poor economic landscape in the transitional period. The monetary and fiscal policies suffered heavily bringing about growing inflation with a devaluing domestic currency. There was also pressure on the fiscal policy as a result of increased spending; low public revenues coupled with increasing monetary deficits and debt stocks. The study is important to this paper as it aims at identifying the consequences of the 2011 political events on the Egyptian economy. It also explores how the management of the fiscal and monetary policies was conducted during the transitional

Egypt economic report (Source 4).

IV. Monetary and fiscal policies post 25th January revolution: Fighters against windmills (Source 3).

V. Challenges of Egypt’s economic transition (Source 2).

References

Abdou, Doaa S. and Zaazou, Zeinab (2013). The Egyptian revolution and post socio-economic impact. Topics in Middle Eastern and African economies, vol 15, No. 1, May 2013. Modern Sciences and Arts University (MSA), Egypt.

Afifi, Tamer (2011). Stealth environmental influences on economic migration in Egypt. Cigi Africa Initiative, Discussion Paper Series, No. 1, July, 2011.

Bank Audi (2014). Egypt economic report: Growing hopes for macro recovery following transitional years of economic sluggishness. Economic, Egypt, 19 March 2014.

Emann, Heba Talla A.S. (2012). Monetary and fiscal policies post 25th January revolution: Fighters against windmills. London School of Economics, Middle East Center, London, 28 September, 2012.

Saif, Ibrahim (2011). Challenges of Egypt’s economic transition. The Carnegie papers November, 2011

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