Source: Middle East Institute
Author(s): Yasser Elnaggar
Original Link: https://www.mei.edu/publications/what-does-covid-19-mean-egypts-economy
COVID-19 has disrupted both supply and demand around the world. Egypt is not immune to the recessionary trends caused by the sudden halt in supply chains and the sharp decline in demand, domestically and globally, resulting from the rapid spread of the virus. The drop in economic activity is even more evident in a country that has adopted fiscal consolidation measures and increased public spending on major infrastructure projects that are now underway. These policies worked while the economy was strong, but it is time to consider new strategies to promote the private sector as the government faces some tough decisions ahead.
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