Egypt Economic Blues and Fast Lane for Recovery.


Hany Ghoraba

Two consecutive revolutions in January 25th 2011 and June30th 2013 have left the Egyptian economy battered and in shambles. Yet, thanks to initial contingency plans, support from Egyptians abroad and Arabian Gulf States along with some strict policies the Egyptian Economy have managed a near miracle of nearly surpassing South African Economy as the Second African Economy next to Nigeria. Despite all these initial successes, the Egyptian Economy is far from reaching the safety harbor.

In fact , the Egyptian Pound is witnessing a nightmare scenario in Fall 2015 and another in Summer 2016 that has led to the resignation of former Governor of the Central Bank of Egypt Dr. Hisham Ramzy and possibly the reigning governor Tarek Amer. Both menpolicies have led to a weakening Egyptian Pound against all Major currencies especially the US Dollar. While the USD is witnessing a strong performance against all other currencies in…

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