Economic Issues In Egypt

Egypt is a republic in northeastern area of Africa; it was known as the United Arab Republic until 1971. Egypt is an ancient civilization that grew from 2600 to 30 BC. Egypt's economic range includes involvement with mainly tourism, construction and manufacturing. Currently, Egypt’s economy is not doing well. Because of the revolution in 2011, the Egyptian economy has gone from bad to worse. The country’s unemployment is still increasing which is causing the budget deficit. Job creation is virtually impossible, and the Egyptian pound has lost majority of its value. To make problems worse, the general lack of security in the country has increased. All of these issues have a negative effect on the country. For example, the soaring unemployment rate is contributing to the country’s high crime because people do not have money. Understanding the causes and effects of Egypt’s economic issues crisis can help find a solution. This research includes Egypt’s investigating previous, current, and future issues.

One of Egypt’s previous issues was the revolution. Egypt’s revolution in 2011, contributes to its already terrible economy. The revolution was a movement of protesters in Egypt to rebellion against the government of Egyptian President Hosni Mubarak. Millions of protesters of different socio-economic and religious backgrounds rebelled through rallies, strikes, riots, “non-violent civil resistance and labor strikes that began on 25 January 2011” (Wikipedia). The protesters protested against the government of Hosni Mubaraki for many different reasons. Reasons such as police cruelty, state of emergency laws, election fraud, political restriction, extensive corruption, elevating unemployment, food price increase, small minimum wages, demog...

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...require employees to run it thus making job creation easier.

In conclusion, after researching Egypt’s earlier, present, and upcoming difficulties with its economy, it was obvious that Egypt’s main issues were political unsteadiness, declining tourism and high joblessness. The main previous issue was the revolution harmful effect on the economy. Egypt’s current issues were underground dollar trade and political instability. The future problems Egypt may encounter are slower economic growth and increase the unemployment rate. Suggested solutions for these issues were to elect a president to fix the political instability and make job creation easier; additionally, to increase tourism, Egypt should advertise their beaches and monuments on television, internet, and social media. If the people of Egypt have faith, their country economy could get better slowly but surely.