May 28, 2014

Sisi Will Rule an Egypt on Verge of Collapse

John McLaughlin, Ozy

The Associated Press

The Egyptian economy is perilously close to collapse. It turned in the wake of the 2011 revolution, which brought violence and a chaotic period of failed Islamic rule before last year’s coup. Tourism, which along with Suez Canal tolls, is the major component of Egypt’s income, just had its worst recorded year, with revenues down by nearly half the pre-2011 level. Egypt’s overall debt now exceeds the country’s economic output. Inflation hovers between 11 percent and 12 percent. Unemployment is pushing past 13 percent, and upwards of 70 percent of the unemployed are in the 15-to-29 age range, the very demographic that drove the revolution.

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TAGGED: Egypt

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