According to a Cairo- based think tank a more constructive engagement is needed between the private sector and the Egyptian government for creating employment opportunities within the private sector. Despite data showing that economic reforms are working in this North African nation, not many vouche for it since a commensurate feel-good factor is missing among the ordinary citizens. It may be noted that as 2016 IMF deal draws to a close, many people are asking whether the bailout package doled out by the IMF, has worked to its desired level. Ordinary Egyptians are reeling under pressure stemming out of inflation and unemployment. question is, has the ordinary Egyptian not reeled under pressure for far too long?
A report published by the World Bank in April 2019, revealed that some 60% of Egypt’s population is either poor or vulnerable. The overall living conditions reportedly were sliding rapidly, despite the rosy picture painted by the government that the economy was on the pink of health. The debt ridden country, according to reports is channelizing the resources for repaying the debt. If the trend continues unabated, very soon many feel that the country would be caught in a debt trap. How can it be, then, that Egypt’s economic outlook appears to be so rosy?
