Egypt’s Economy: Neither Collapsing nor Thriving

Source: The Tahrir Institute for Middle East Policy

Author(s): Timothy E. Kaldas

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Earlier this summer, a pair of articles in Foreign Policy were published offering seemingly diametrically opposed views on Egypt’s economy. Yehia Hamed, investment minister under the late president Muhammad Morsi, argued the economy was on the verge of “collapsing.” In response, Ahmed Shams El Din, head of research at EFG Hermes offered a rebuttal that suggested the economy was “thriving.” The idea that Egypt’s economy is thriving will certainly be news to the millions of Egyptians who the government has just reported have fallen below the poverty line since the last poverty survey conducted in 2015, with the poverty rate officially having risen from 27.8 percent to 32.5 percent.

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