Source: Egyptian Institute for Studies
Author(s): Abdelhafez Alsawy
With this famous statement, “Tomorrow, you’ll see Egypt”, General-turned-president Abdel-Fattah Al-Sisi launched his promises of stability and achievement of economic welfare to the Egyptian people in 2013. The Egyptians thought their homeland would witness the end of the era of living crises, especially after the Army ousted the elected President Mohamed Morsi on July 3rd. 2013. However, what later happened was completely the opposite, as many living crises exacerbated, varying between lack of services, low wages, increased unemployment and price rises in most goods and services, after the government tended to reduce the fuel and commodity subsidies in order to reduce the aggravating budget deficit, in addition to many other problems.
The Egyptian Economy suffered a consistent decline in all sectors during the last five years, especially after the military coup in July, 2013, in spite of the enormous support provided to the Egyptian regime by rich Gulf countries during this period and the mega projects that the successive governments claimed to carry out. Corruption rates have increased since July 4 2013. Corruption issues have also undermined ministers of the military governments one after another, as well as higher administration officials.
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