Egypt, though known around the world for its historical legacies and for its pyramids, is experiencing a deep economic crisis. The country's foreign currency reserves are less than half of what they were before the 2011 uprising that threatened Egypt's ability to pay for its own food and fuel. We see this economic crisis in Egypt's budget deficit; 14 percent of its gross domestic product (GDP) and we see it in its overall debt. Many attribute Egypt’s debt to the deficits that accumulated which averaged more than the country's economic output. We can also see the country’s economic crisis in the fact that approximately 45% of Egyptians live on less than two dollars per day, in the fact that their inflation reached a high of over 12% after the
Knipp, Kerstin. "Uncertain Future - Economic Problems in Egypt." DW.DE. N.p., 7 June 2013. Web. 01 Dec. 2013.
Egypt has seen its fair share of foreign influence “from Ottoman in the sixteenth century up to French and British in the late nineteenth and early twentieth centuries.”1. Time and again Egypt’s society has been subjected to foreign empires. Egypt was subjected to British occupation from the 19th century into the 20th century. In the early part of the 20th century, Egypt was able to gain its independence from Britain, but not after years of rebellion and protest from the Egyptians.
The two-century period of the history of the modern state of Egypt comprise of a series of remarkable events that have shaped both the country’s past and future. Over the course of these two hundred years, Egypt saw its declaration as a Khedievate by the then Wali of Egypt, Muhammad Ali Pasha. Following this, it fell into the British occupation, after its protector, the Ottoman Empire sided with the Central Powers. Under the British, Egypt was proclaimed a sultanate. Yet, its life as a sultanate did not last much, due to the anti-British sentiments among its people. Fearing a mass revlot, the British decided to grant Egypt its independence in 1922, thus proclaiming the Kingdom of Egypt, with Sarwat Pasha as its first Prime Minister. Though de jure an independent state, much of Egypt’s domestic and foreign affairs remained under the direct control of the British. This led to the revolution of 1952, which overthrew the King, abolished the monarchy and established the Egyptian Republic, which has survived up until today. The republic period was not one worthy of praise either. With all but the last of its presidents coming from a military background, Egypt received a small share of social justice and human rights. It experienced dramatic switches in its foreign policy orientation, its head being turned from the USSR towards the US in instanteous movements. Just when it seemed that the country had finally begun to walk towards a democtratic society based on the rule of law, the military stroke again, removing the first Egyptian president ever to come to office by popular democratic vote.
An unstable economy in some Arab countries resulted in a failure to maintain order and democracy. Brownlee, Masoud and Reynolds (2013) claim that the lack of oil resources and currency wealth proved to be impediments i...
The Egyptian military coup engineered by General Al-Sisi on July 3, 2013 presented a dilemma to the United States government on whether it should continue supporting the regime or cut ties with Egypt. The country has been a long-term ally of the US and one of the biggest recipients of US military and economic aid. However, after the coup by General Al-Sisi, the military regime has often violated fundamental human rights and freedoms especially for the citizens considered sympathetic for the previous regime of President Mohammed Morsi. Despite the widespread human rights violation, the US government as well as the Congress has continued to support the military regime through extending aid to the country. The rationale behind continued support to the Egyptian government is to promote US interests as outlined in its foreign policy agenda. This discussion explores the issues surrounding the military coup by General Al-Sisi and highlights why the US government have continued to support the Egyptian military despite allegations of widespread human rights violations.
As Egypt is known for it’s mixed economic system ,Compared with other emerging markets, Egypt's private sector is tiny. The public sector still accounts for almost 70 per cent of GDP despite the fact that hundreds of public enterprises have been wholly or partly privatised during the past four years.
The Arab Spring is an extremely prominent issue today. This refers to the series of protests and civil wars that have been occurring in the Arab World due to discontent with government, human rights violations, poverty, and other factors. Countries where this is an issue include Tunisia, Egypt, Libya, Yemen, Bahrain, Syria, Algeria, Iraq, Jordan, Kuwait, Morocco, and Sudan. One of the countries hit hardest by the revolution was Egypt.
There is an abuse of consumer rights and safety in Egypt that affected the consumer in a bad way rather than protecting him. There is consumer laws violence that continued for decades in the Egyptian system and it is really clear in the healthcare, education ,food and tourism sectors. Although there are regulations that should protect the consumer, there are still unethical and corrupted practices that take place in all the sectors that should provide the best service for the Egyptian consumer. The consumer rights to safety are vanishing that the consumer health is not protected by anything in the country. Also, the right of the consumer to high quality education is not available in the country. Moreover, the consumer has the right to be heard but no one hears the complaints of the consumer to get back on the right tack. The consumer has the right to a healthy environment but the environment is polluted and causes many health issues. The food and water are not healthy and can cause chronic diseases to the consumer. In the healthcare sector, the public healthcare system is against humanity and the consumer safety laws in Egypt that it has taken away the lives of many patients due to its miserable conditions. In the education sector, the government gave a blind eye to the education problems so it has been descending due to the unbearable public education conditions. In the food sector, the consumer safety laws are not put into consideration that the health of the consumer is in danger due to the unhealthy food and contaminated water. The last sector is the tourism sector which is lagging due to the lack of the government incentives and good strategic planning.
The growth of slums and ghettos has increased in Egypt. Many of the residents of Egypt live in urban areas, ca...
Morocco, a nation in the Northern part of Africa bordering the North Atlantic Ocean and the Mediterranean Sea, has demonstrated improvements in their economic landscape in recent years. The nation’s gross domestic product for the year ending 2013 was $180 Billion (reported in USD), representing an increase of $7.8 billion from 2012 and placing them 60th amongst the world’s nations (Central Intelligence Agency, 2014, Economy). The gross domestic product is the value of all final goods and services produced within a nation in a given year (Central Intelligence Agency, 2014, References & Definitions). These figures prove that Morocco has increased their output from 2012 to 2013, therefore reinforcing the fact that the nation’s economy has shown signs of growth. In 2012 alone, the Moroccan economy grew 3.2%, driven mainly by internal consumption and public investment (African Development Bank Group, 2014, para.1). Funding the economy and its growth remains a challenge, however, the government has already began to seek ways to increase investment within the nation and develop strong relationships with other nations.
...e getting killed during operations by the Egyptian security forces. The balance of trade was characterized by huge trade deficits. The oil exports are what the economy is highly dependent on, which the US financial and military aid major the source of it on foreign income together with tourism receipts.
Crowcroft Oriando. “Tourism in Egypt: Hope amid a slow recovery”. www.CNN.com. 23 May, 2013. 24/10/2013
Financial Instability The soaring volume of international finance and increased interdependence in recent decades has increased concerns about volatility and threats of a financial crisis. This has led many to investigate and analyze the origins, transmission, effects and policies aimed to impede financial instability. This paper argues that financial liberalization and speculation are the most reflective explanations for instability in financial markets and that financial instability is likely to be transmitted globally with far reaching implications on real sector performance. I conclude the paper with the argument that a global transaction tax would be the most effective policy to curb financial instability and that other proposed policies, such as target zones and the creation of a supranational institution, are either unfeasible or unattainable.
Egyptians began to settle along the banks of the Nile River, Starting as far north as to the city of Alexandria all the way down south to Aswan. They developed into a well-structured society as Far East to the Red Sea and west to Dakhia, Oasis among many (Figure 1.). The Nile River reached far lending a hand in creating a well-known civilization that consisted of building pyramids and producing crops for their pharaoh. Evolving from hunters and gatherers into agriculturalists throughout history, Egypt has claimed to be one of the earliest and most spectacular civilizations of ancient times. One could wonder if, what led to the collapse of this great society resulted from the Egyptians interaction with the environment by overusing natural resources, seasonal flooding of the Nile River can play a role, or even worse feuding wars of rulers that see value in the great Egypt soil that are continuing well into the present day?
In the late 2000s, the World suffered from a big global economic crisis which caused “the largest and sharpest drop in global economic activity of the modern era”, in which “most major developed economies find themselves in a deep recession”, according to McKibbin and Stoeckel (1). Because its consequences have a very big impact to the whole world, many economists and scientist have tried to find the causes of the crisis; and some major causes have been emphasized are greed, the defection of the free market system, and the lack of prudent regulation and supervision. This essay will focus on the global imbalances, one of the most important causes of the current economic crisis.