Source: Timothy E. Kaldas
Author(s): Italian Institute for International Political Studies
As in many parts of the world, COVID-19 has brought into sharper relief the structural problems in Egypt’s economy. In many respects, these problems are far from new. Egypt’s economy has had a current account deficit since it was a monarchy. Government efforts at regime-led industrialization and economic growth failed in the 50s and 60s under Gamal Abdel Nasser due to a combination of poor economic planning and insufficient investment, due in large part to high defense spending.
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