Egypt’s Unenviable Economy

Source: The Tahrir Institute For Middle East Policy
Author(s): Timothy E. Kaldas

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Egypt’s economy is saddled with an array of complicated and interrelated challenges. The government is burdened with the unenviable task of addressing and overcoming these challenges in a weak global context for emerging economies. Unemployment and inflation contributed to the uprising in 2011, and the instability since then has not helped matters. Egypt’s hard currency reserves are dwindling due to collapsing inflows, inflation continues to erode consumers’ purchasing power, the pound is overvalued, levels of foreign direct investment are inadequate, and the country faces a substantial trade deficit. As the government tries to balance competing demands, the situation threatens to spin out of control….

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