Economy

The global economic crisis that struck in 2008 propelled Egypt’s main sources of revenue – taxation, remittances, tourism and Suez Canal receipts – into significant declines. The downward trends seen across these important sources of income during 2009 demonstrated that, despites the nation’s relatively robust performance during those difficult...

We will begin a new phase in Egypt’s history and close the page on an abhorrent chapter. We will rewrite a story of glory that echoes back to our wondrous past, a history that belongs to the millennia when Egypt went through eras of prosperity. We will work to avoid reviving the eras of weakness and hardship, for Egypt shall never turn back to...

Subsidies have played a significant part in the Egyptian economy since the era of President Gamal Abdel Nasser in the 1950s and 1960s – a time in which numerous Middle Eastern autocracies sought the approval of the populace through the provision of food and other essentials at below-market prices. Sardonically described as the “democracy of bread”...