Is Egypt undergoing an economic crisis?

Egypt appears to be in the throws of an economic crisis. The macroeconomic situation has deteriorated after the September 11. In particular, Egypt is undergoing a severe liquidity crisis caused by the loss of hard currency from four sources: The tourism was a key source of foreign exchange and the main engine of growth.

How has Egypt deteriorated after September 11?

The macroeconomic situation has deteriorated after the September 11. In particular, Egypt is undergoing a severe liquidity crisis caused by the loss of hard currency from four sources: The tourism was a key source of foreign exchange and the main engine of growth. Expected losses in the sector range from $2-3 billion

What's happening in Egypt today?

Food prices have doubled, salaries have halved and banks are restricting how much cash you can take out of your accounts: The financial free fall that many ordinary people in Egypt are experiencing today sounds very similar to the catastrophic economic crisis citizens in nearby Lebanon have been dealing with since 2019.

Does Egypt need a political and economic overhaul?

One of the country’s richest people, billionaire businessman Naguib Sawiris, recently told a Lebanese newspaper that Egypt needs a political and economic overhaul. The government has repeatedly defended such megaprojects as essential for improving living conditions and generating jobs for the growing population.