Egypt economy after revolution pdf file

In the 21st century, egypt is modernizing its economy to better serve a growing population. A revolution in 2011 and a coup two years later tipped egypt into economic crisis. The egyptian economy has transformed itself after the 1952 revolution, from a regulated and social controlled economy in a certain historical context now finding itself into a complex reforming process that has been launched by the massive privatization of the former public enterprises, into a new historical context. Running to stand still egypts economy thrills investors. Combining a quantile regression and a difference in difference methodology, we present empirical evidence in support of our hypotheses that the revolution has had an adverse impact on the egyptian economy, on average, but with heterogeneous effects across different sectors. The nile delta of egypt, irrigated by the nile river and its many distributaries, is some of the richest farm land in the world and home to over half of egypt s population.

Following the egyptian revolution, political and regional developments continued to undermine egypt s economy. Revenue from tourism has collapsed, putting pressure on the bal. State institutions underpinning both, ranging from the legislative and judicial branches to executive agencies with direct responsibility for economic management require substantial if not total overhauls. Egypt faces the herculean task of simultaneously rebuilding its polity and economy and doing so in the absence of broad social consensus on either. Seven years after the 2011 uprising in egypt, a combination of domestic challenges, together with instability in the middle east and north africaregion has stalled the countrys ongoing transition. The economic roots of egypts crisis the washington post. As egypt marks the fifth anniversary of the 2011 revolution on 25 january, it looks back on five years of rapid political change, social dislocation and economic turmoil. Rafik hariri center for the middle east the rafik hariri center for the middle east at the atlantic council studies political transitions. The economic causes of the egyptian revolution january 25. The economic development in egypt during the 19522007 period. Economic conditions in egypt prior to 25th of january revolution. The egyptian economy has transformed itself after the 1952 revolution, from a regulated and social controlled economy in a certain historical context now finding itself into a complex reforming process that has been launched by the massive privatization of the former public enterprises, into a. Hafez ghanem examines the economic aspects of egypt s transition and argues that the new economic program must be responsive to the revolution s demands. Higher government spending, particularly on investment and public wages, likely underpinned activity.

Egypt s economy in 2011 banks in egypt could record a wave of cash withdrawals when they resume their operations, such examples have included companies among the hardest hit violent protests against president hosni mubarak, says bloomberg. Egypt after the revolution is before the revolution. This page provides egypt gdp growth rate actual values, historical data, forecast, chart, statistics, economic calendar and news. Prior to discussing the direct and indirect reasons behind the egyptian revolution, it is worth elaborating on the economic, social, and political circumstances of egypt prior to the 25th of january revolution. To make further progress, the government must ensure that many more new and better jobs are created each year. Colonialism the historical context from 1870 a series of great economic changes in advanced capitalist powers second industrial revolution brought a wave of new technologies that radically transformed the economy of the most advanced countries. Prior to the revolution on the 25th of january, the economy in. Unemployment is on the rise while prices are exploding. An uncertain history of revolution by mariana gallegos dupuis v00799794 supervised by dr. Egypts political, economic situation improved under sisi. The current regime is adopting similar economic policies to those of. The government of egypt supported by the world bank group has achieved significant results across all three focus areas under this cpf. Egypt still depends on its traditional cotton growing and tourist industries. Successive egyptian governments have struggled to develop a vision for a new economic model for egypt, while simultaneously implementing populist policies to appease the immediate demand of the public.

Caroline freund explains how egypt s alreadyailing economy has deteriorated over the past yeara trend that has underpinned the current unrest. In the world economic forums rankings of womens economic participation and opportunity, egypt is a hundred and thirtysecond out of a hundred and fortyfour. Pdf the egyptian revolution and post socioeconomic impact. For a chronological summary of the major events which took place after the 20112012 egyptian revolution under president mohamed morsi, see timeline of the 20112012 egyptian revolution post revolution. The post revolution economic strategy has so far only focused on financing an expanding budget deficit and stabilizing the egyptian pound in the face of a growing balance of payment deficiency. Successive egyptian governments have struggled to develop a vision for a new economic model for egypt, while simultaneously implementing populist policies to appease the immediate demand of.

Impact of the socio economic situation post the egyptian revolution 2011 countries of the world, inequality is considered as a lead cause for. The egyptian revolution of 25 january 2011 not only marked a turning point in egypt s political landscape, but also significantly affected the countrys economy and labour market. Egypt economy gdp, inflation, cpi and interest rate. The revolution was initially aimed at overthrowing king farouk. Andrew wender a graduating essay submitted in partial fulfillment of the requirements, in the honours programme. Egypt economy, politics and gdp growth summary the.

Why have energy subsidies, which swallow a fifth of the budget, only become a financial burden now. The fallout of the arab spring revolution has led egypt to. The economic decline of egypt after the 2011 uprising. Agricultural policies, trade and sustainable development in egypt march 2017 agriculture isin tellioglu panos konandreas. As the political climate worsened after the january 25, 2011 revolution, egypt.

Raw cotton, exported to europe, formed the largest source of income. W ith hindsight, its clear that the mubarak regimes. The egyptian revolution and post socio economic impact doaa s. The changes in economic policy and the partial liberalization of the economy, even though they did improve annual gdp growth, were highly unpopular, particularly because most benefits of this growth were reaped by a small group of businessmen close to the government. The imf had predicted that the egyptian economy would grow by 3 percent in 20, but it has now down graded that figure to 2 percent. The economy since the revolution economic performance in egypt has been poor since the revolution began in january 2011. Domestic demand and foreign inflows will take a hit in 2020, with growth averaging 2. How the turbulence of the arab spring revolution has led the country to economic ruin. For the degree of bachelor of arts in the department of history university of victoria april 4, 2017. The soaring inflation was wearing people down, as was the. The international economic downturn slowed egypt s gdp growth to 4. How egypt rebuilt its economy since june 30 revolution. A year ago, egypt s economy had been crushed by political turmoil. Egypt s economy five years after the revolution as egypt reflects on political change and social dislocation, how has the economy fared and how does the future look.

The egyptian revolution carries a challenging transition phase, starting out with problems such as low foreign direct investments fdi, a high budget deficit, a high debt. In the short term, economic policy will focus on mitigating the impact of the coronavirus, with fiscal consolidation suffering, although reforms will be revived later in the forecast period. Before the country became independent, the egyptian economy depended largely on agricultural activities. Gdp has declined by almost 4 percent and manufacturing by 12 percent. The economy is under continuous strain because of the turbulent process of political transition. The arab spring had culminated in a military takeover and the installation of the current president, abdel fattah alsisi. Agricultures role in the egyptian economy, 19952014 figure 2. Many factors created discontent with mubaraks regime. The economy likely kept steady momentum in the second quarter of fy 2020, which ran from october to december, after slowing marginally in the first. The egyptian revolution carries a challenging transition phase, starting out with problems such as low foreign direct investments fdi, a high budget deficit, a high debt rate, a high. There is a general perception that egypt s informal economy has been booming since the january 2011 revolution. Learn more about the egypt economy, including the population of egypt, gdp, facts, trade, business, inflation and other data and analysis on its economy from the index of economic freedom. Still no clear vision mohsin khan and karim mezran are senior fellows at the atlantic councils rafik hariri center for the middle east.

The capital city of cairo lies at the apex of the delta in the middle of the scene. Egypt s economic growth has been robust, averaging 5. Abdou, zeinab zaazou modern sciences and arts university msa, egypt abstract. Tough living conditions followed the states 2017 reformist economic policies which included a series of decisions, from reducing subsidies on energy to devaluing the local pound. As the countrys economy continues to falter, the informal sector features ways to supply and procure necessities for less. Authorities could take off the financial system to avoid this risk. Running to stand still egypt s economy thrills investors, but locals are struggling. The economic consequences of the arab spring by mohsin khan atlantic council rafik hariri center for the middle east the popular uprisings that swept the middle east in early 2011 dramatically altered the political landscape of the region with the overthrow of autocratic regimes in egypt, libya, tunisia, and yemen. Before and after how did egypt s economy survive before the revolution considering it was a ticking time bomb. The challenge now is to create a more inclusive strategyone.