Egypt faces the herculean task of simultaneously rebuilding its polity and economy and doing so in the absence of broad social consensus on either. An uncertain history of revolution by mariana gallegos dupuis v00799794 supervised by. 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. 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. Rafik hariri center for the middle east the rafik hariri center for the middle east at the atlantic council studies political transitions.
Although 18 months have passed since hosni mubarak resigned from the presidency, the egyptian economy is still stagnant. Egypt s economic growth has been robust, averaging 5. Egypt economy gdp, inflation, cpi and interest rate. Agricultures role in the egyptian economy, 19952014 figure 2. Authorities could take off the financial system to avoid this risk. The purpose of this paper is not to add another piece of research on the subject. Egyptian economy, soical justice and security after egypt 25 jan revolution. Before the country became independent, the egyptian economy depended largely on agricultural activities. 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. Beginning in december 2010, unprecedented mass demonstrations against poverty, corruption, and political repression broke out in several arab countries, challenging the authority of some of the most entrenched regimes in the middle east and north africa. Egypt accelerated its ongoing transition from a public sector dominated economy to a private sector led and market oriented economy after the collapse of oil prices in the mid1980s. What are the drastic impacts on the political economic conditions after revolution, and also the socialsociological environment in egypt. War in the seventeenth century as in the industrial revolution. Existing literature on almost every aspect of the said economy is abundant.
Not surprisingly, it is the largest migrant sending country in the region to date. The expectation gap in the egyptian economy after the. The french and british incorporated their newly established mandates in the levant and iraq into their respective imperial economies. The ensuing suspension of us aid to egypt exacerbated the burden wartime expenditure placed on the economy, already strained by the radical socialization drive of the 1960s, and drove egypt deeper into debt to the soviet union. English per capita income was double that of nigeria and kenya, and four times that of. Also, the devaluation of the egyptian pound is an important factor that led to the withdrawal of billions of dollar by foreign investors from the egyptian stock market after the egyptian economy witnessed a large influx of foreign stocks into the egyptian market in 2009 and 2010.
Agricultural policies, trade and sustainable development in egypt march 2017 agriculture isin tellioglu panos konandreas. 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 representation of women in the constitution drafting committee after 30th of june is 10% only. The fallout of the arab spring revolution has led egypt to. Land redistribution policies enriched new classes of large absentee and tribal landowners, which. After a phase of legal restrictions on emigration under nassers regime, egyptian emigration took off after 1971. The economy likely lost steam in the third quarter of fy 2020, which ran from january to march, as cases of coronavirus rose both domestically and abroad and the government imposed strict containment measures to control its spread such as nighttime curfews and the closure of airports. Why have energy subsidies, which swallow a fifth of the budget, only become a financial burden now. 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. The challenge facing egypt s youth 4 as noted earlier, the government had no strategy for absorbing tens of thousands.
A revolution in 2011 and a coup two years later tipped egypt into economic crisis. Five years after the 2011 revolution, egypt s economy is floundering and remains far from recovery. The egyptian revolution and post socio economic impact doaa s. This paper tries to answer the following questions. 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. 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. The economic causes of the egyptian revolution january 25. Prior to the revolution on the 25th of january, the economy in. Agricultural policies, trade and sustainable development. The economic roots of egypts crisis the washington post. 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. In the world economic forums rankings of womens economic participation and opportunity, egypt is a hundred and thirtysecond out of a hundred and fortyfour.
Economic experts view egypt s economy in 2018 with cautious optimism for most of the last decade, egypt has been squeezed between turbulence and uncertainty, and a deteriorating economy. The expectation gap in the egyptian economy after the january 25th. 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. Still no clear vision mohsin khan and karim mezran are senior fellows at the atlantic councils rafik hariri center for the middle east. The economic development in egypt during the 19522007 period. The economic development in egypt during the 19522007. Thus the inflation rate is expected to increase from 11. This paper is organized around eight sections that circumscribe the economic situation in egypt. After the 1952 revolution, president nasser turned egypt into a stateled economy accompanied by the nationalization of industries and the redistribution of agricultural lands, which. Egypt economy, politics and gdp growth summary the.
Pdf egyptian economy, soical justice and security after. Prior to the egyptian revolution within the arab spring, womens rights issues in egypt were high on the. The egyptian revolution and post socioeconomic impact by. Abdou, zeinab zaazou modern sciences and arts university msa, egypt abstract.
As the political climate worsened after the january 25, 2011 revolution, egypt. W ith hindsight, its clear that the mubarak regimes. 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. Relations historically, egypt has been an important country for u. The economy is under continuous strain because of the turbulent process of political transition.
This page provides egypt gdp growth rate actual values, historical data, forecast, chart, statistics, economic calendar and news. Why cant egypt s economy create enough jobs for everyone. Women played a marginal role in the drafting of the constitution after 25th january revolution and representation was around 7%. The egyptian government is keen to ensure continued investment from china and reduce geopolitical dependence on the us. Egypt and two key american allies on the arabian peninsula strained us egyptian relations to the breaking point. Economic conditions in egypt prior to 25th of january revolution.
How did egypt s economy survive before the revolution considering it was a ticking time bomb. A year ago, egypt s economy had been crushed by political turmoil. Private investment is picking up and net exports are improving. The impact of arab spring on stock market performance. Various challenges had to be addressed, from political unrest and declining tourism to. The arab spring had culminated in a military takeover and the installation of the current president, abdel fattah alsisi. Raw cotton, exported to europe, formed the largest source of income. How the turbulence of the arab spring revolution has led the country to economic ruin. Running to stand still egypt s economy thrills investors, but locals are struggling. Pdf the egyptian revolution and post socioeconomic impact.
Some aspects of the economy, such as trade policy, have been substantially transformed since. 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. The challenge now is to create a more inclusive strategyone. 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.
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