Egypt’s Oil Dependency and Political Discontent

Source: Carnegie Endowment
Author(s): Amr Adly

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More than five years after the overthrow of then president Hosni Mubarak, the structural shortcomings that characterized the Egyptian economy before the January 2011 uprising remain in place. At the time, these contributed to the revolt against Mubarak’s rule, and today, unless they are addressed, the possibility of renewed political volatility remains very real.

For now, however, Egypt has stabilized politically relative to where it was a few years ago. This provides the government with an opportunity to embark on a thorough restructuring of the country’s model of socioeconomic development. The objective must be to establish an economic system based on inclusive growth that is capable of generating quality jobs that are sufficient in number to absorb the 600,000 new entrants into the labor market each year…

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