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Egypt: A term of spending despite austerity

Life in Egypt did not, before 25 January, and still does not, after 30 June, live up to the aspirations of many of its inhabitants. Social welfare has been sacrificed on the altar of economic “reform”, as if that was the only hurdle impeding the government’s effectiveness to provide a decent life for all. For …

Islam M. Elwany

The heritage of economic citizenship: a‘refuge’ for advancement

A lot of unnecessary energy has already been expended on Egyptian television arguing over the planned reforms ofresidency and naturalisation procedures, with accusations of treason flying both ways. The idea is that you get a five-year long residency if you stash a lot money in the bank that the government will then spend and invest …

Emad El-Din Aysha

Does Egypt’s economic targets line up with its economic reality?

Minister of Finance Amr El-Garhy had said on Sunday that the ministry has set three goals for the country’s budget in the fiscal year (FY) 2017/2018. According to him, the ministry plans to focus on sustainable development, by raising the GDP by 5%, reducing unemployment to 11%, and cutting the national debt to 94% of …

Hisham Salah

Egypt’s subsidy system: questionable corruption, unending problems

At the beginning of the 20th century, when the world was plagued by famines and world wars, governments enlisted food subsidy programmes to feed their citizenry in these desperate times. Such programmes are still used by government’s all over the world in order to combat poverty and hunger. However, many countries across the world have …

Hisham Salah

Europeans head to Latin America to escape economic crisis at home

As many well-educated people can't find jobs in crisis-stricken Europe, they turn south. More migrants are moving from Europe to Latin America and the Caribbean than the other way round. Jane Chambers reports from Chile. Originally hailing from Seville in southern Spain, Magdalena Martín Sevilla decided to make Chile her new home after she couldn't find any work for months….

Deutsche Welle