The Economy of Egypt: Repeating History?
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- Опубликовано: 26 июн 2024
- The Egyptian Economy was the only one in the Middle East North Africa region to avoid a recession in 2020. Being a good reflection of the economic rollercoaster Egypt routinely finds itself on.
One driven by inflation rates of up to 30% a year, a halving of its currency and a painful IMF bailout in 2016.
But how did Egypt's Economy find itself in this situation?
What impacts did Five Year Plans, spending nearly 20% of GDP on the military and widespread nationalisation have on its economy?
Why is Egypt the world’s largest importer of wheat?
And perhaps most importantly, what has its post 2011 revolution delivered?
#Egypt #EgyptianEconomy #Economics
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Military budget is 2%-3.76% not 12% its fasle calms of isis terrorists that we down them in 30/6/2013 revolution backed by army after they came power in 2012 by claming that they will fix economic and services and it was scam to turn egypt to another IRAN party
government cut spends of support feeding 🛢️ electric ⚡ in 2016 by 80% and turned it to infrastructure and indestry new 22 mega city gen 4 to housing next 216 m egyption in 2050 rail ways solar panels roads Bridges dig canals airports sailports eleminating slums problem forever and alot
Ethiopia next
@@mohamedsonofkemetegypt979 firstly I wasn’t talking to you. Secondly that was very mean. Thirdly you should know that our gdp now is around a third of yours while in 2001 it was a tenth we are growing at a faster pace we are around twenty points higher in the corruption perception index, our country’s economy isn’t controlled by the military and we are trying to fix our structural issues. I’d like you to read an article written by data compiled from university of Denver pardee institute it shows that we will pass egypt by around 40 years, with abiy maybe sooner, www.politico.eu/article/europe-on-the-wane-global-economics-demographics-gdp/ . So don’t be mean I didnt say mean anything about your country Jesus
@@menassies3224 I like Ethiopians away from the dam thing
@@menassies3224 this will only happen if the dam was built but it seems that the dam will be bombed sooner or later. So this will stop the economic growth and will have a very bad impact on the Ethiopian economy
I am a medical student in Greece. We learned that Egypt was the best nation to detect and decrease the persentage of the population with Hepatitis C, because of very good policies between '15-'20s. It was such a good example, that no other country in the developing or developed world performed that well. Actually was the only country to meet the W.H.O. goal.
I hope many good policies will continue and the nation will prosper. Love from your neighbor!!
This is also another fascinating story. Back in 2015, ISIS was at it's peak. I still remember how it felt everyday when I would hear about the number of deaths and casualties that they caused. Despite these tough circumstances, they were able to treat almost all the people suffering from Hepatitis C for free, even though Egypt had one of the largest percentages of population suffering from this disease. Thank you for your kind words, would love to visit Greece one day.
@@MoustafaEwida Yes i am aware! The persentage of the population in Egypt (i think) used to sit around 18%. Thats because of the vaccinations programs with reusable -and unfortunately unsterilised needles, 60 years or so, ago. Oh the irony... They wanted to get rid off one disease and almost one in five got infected with Hep C...
Now of course this isn't an issue (vaccines have one-use niddles), though back in the 20th century was a mess in terms of Healthcare standards.
I hope you can visit Greece! I found this country fascinating, i am also looking forward to visit Egypt!
I am from Cyprus though! And my parents came to your country 20 years ago!
We love you 🇬🇷🇪🇬❤️❤️❤️
Love Greek ❤️🇪🇬
@@davidesparza3637 and we wish Greece remained persian, personally I wish Egypt remained pure ancient Egyptian not hittite Greek or Arab
My sincere wish to Egypt 🇪🇬from Kenya🇰🇪
Africa forever 🖤
Love our Kenyan brothers from Egypt 🇪🇬🇰🇪
❤️
thank you ❤️❤️❤️
Thanks my brother you are always welcome in your second home egypt ❤️
All the respect to my North African Brothers 🇲🇦♥️🇪🇬
Love our North African brothers
🇪🇬❤️🇲🇦💪💪 Sahara belong to Morocco
He means westeren sahara
💚💛😘😍🇪🇬🇲🇦
Yes for the first time one Morocco or even one of our best brothers Libya Tunis algeria to say our North African Brothers thank you from the heart for long time and they are trying to separate egypt from her real brother we are the men bro the arabs never went to out side war out golf of arbs and fight and gain places until north African get In Islam thanks to Allah this is history and not my words
🎖
It’s refreshing to watch a neutral analysis of the Egyptian economy.
Thanks for the comment, fascinating country 🇪🇬
Best of luck to Egyptians and Egypt. Stay safe. Love from India.
@@sarthakpathania We love India too, Greetings from Egypt
Kinda depressing though
@@amr19932012 not depressing, it's realistic
Love Egypt from India 🇮🇳❤️🇪🇬. I would love to visit Egypt one day it's in my bucket list.
Don't. I regretted it. Flies everywhere. Well that's also the case in India. Really, I wouldn't leave the UK for the Middle East except to go to Iran.
Only crazy people would go to Egypt, and the fact that you named yourself after a war criminal is more prrof that you're crazy.
@@Moses_VII I don't care if there are flies. It's just about standing in Egypt and having a feeling inside my heart that I am standing in the land which was rules by a great civilization.
@@Moses_VII Iran is also on my bucket list especially Esfahan. I would love to visit Iran, Jordan, Egypt, Morocco, Turkey. 🇮🇳❤️🇪🇬❤️❤️🇮🇷❤️🇸🇩❤️🇹🇷❤️🇲🇦.
Yeah and you can shove UK up your a$$ I love traveling but I hate politics . I know why you wrote 'UK' in your comment.
@@Moses_VII I know you are fundamentalist just by looking at your saved playlist. Whatever Good Night.
I am Tunisian and Egypt is the mum of the world ( dounyia) :*
from Egypt with love to Tunisia brothers forever
enta akhoya oksem belah
تحيه لك ولأهل تونس الخضرا
*mother of the world
yes egypt is mum of the world, she had romance relations with many countries.
I am seriously impressed with how much data you've gathered on my country. As an Egyptian, this video was very informative and shown me some perspectives I've been missing.
You're welcome Omar. Thank you for watching 👍
@@AltSimplified There is just a thing that is missing from your video that very much impact the economy, that Egypt in unofficial way is not an open economy. The military is in the market of every business field and pay so little wages, taxes & bills. Also the many constructions happening in Egypt is controlled by the military, where the government give the military company of construction a big contract then they divided that into smaller projects and give it to companies with a lower price. So the military is just making money for management that could be done by he government, imo this is a leak in the economy.
Also great video, you have a new subscriber
It's simple.. Better and more easy explainer than our own stupid analysists!!
me also
@@itsmidorabie true 😂
Visited Egypt twice in the early 1980's while working for Bechtel. Found the people very friendly, highly intelligent and earnest in their efforts to improve the infrastructure and lives of everyone. Have fond memories of my time and work there and hope the country and its people have better times coming. Thank you for the video! 😊
Thanks but back in 1980 the country was better than now I hate to say, I’m just really sad.
@@Akhimed but now egypt is going back with the development
@@Akhimed very true as the population wasn't that bad and the environment
@@hccvvbhgcxdfgbbcggbbg yes, I can't wait to see the development when it's done
"highly intelligent",i think you missed we come from the same species
Love to visit Egypt.. my dream destination . from Mumbai.. India🇮🇳
You are always welcome in egypt
you guys are everywhere 😂😂😂
my mom loves bollywood 🇪🇬❤🇮🇳
Egypt is the birthplace of Civilization
Make Egypt great Again
Yes
Working on it
Egypt will be great when birth rates are in check and all of its wasted fertile soil is reclaimed after demolishing the buildings and concrete on top of it. This will take a very long time, but its Egypt’s destiny to fix decades of chaos and improper urban planning.
@@frumpyk3245 the egyption government is working on the population problem to lower New borns from 2 million to 400 thousand
@@Bemen50 yeah right easier said than done, lets see if they succeed this time.
As an Egyptian, this video gave me neutral perspective to the performance of our economy, the amount of research put in this video is unbelievable! Thank you!
Thanks Yousef 👍
@Mohamed Fathy والله يا محمد انا متفق معاك جدًا، الفيديو مجبش سوء الأحوال المعيشية الي أغلب الناس عايشاها حاليًا فالظروف دي، مذكروش أن اغلب المشاريع الي بتتعمل حاليًا مشاريع إستهلاكية مش إنتاجية فبالتالي كل الدين الي بيتراكم هيبقي أصعب وأصعب، أنا مدرك كل دا بس كونك تسمع وجهه نظر محايدة بتديك لمسة من الواقعية بعيدًا عن العواطف، كوني شايف الفيديو كويس دا مش معناه أني متفق معاه فكل حاجه قالها، بالعكس انا لسا عند رأيي أن الوضع من سيئ لأسوأ.
@Mohamed Fathy شكراً للتوضيح، أنا كنت مستغربة إزاي ناس كتيرة شايفة إنها معلومات شاملة للصورة العامة مع إن فعلاً متكلمش في نقطة الإحتكار وزيادة الديون اللي بتستخدم في مشاريع مش هتفيد الإقتصاد علي المدي الطويل ولا قفل مصانع كان ليها تاريخ كبير في دعم اقتصادنا الصناعي زي الحديد والصلب اللي في حلوان...
Respect to my brethren in Egypt 🇦🇪🇪🇬💕💪🏼💪🏼💪🏼
You too ❤️
Countries like this with a big young population and strategic location have such potential.
Yet the leader ship is corupted as a stinky trash bag.
@@gigiwan3335 this is nothing but your opinion
@@rashadseada5789 if you can't see the unemployment ratio within egyptian youth, then it might be my only opinion tho since your eyes are folded, Egypt has the varity of hands to build and establish but they don't have the opportunity to perform and process, its the government duty to make useful Projects and use that manpower to grow its economy and help the youth to find a brighter future.
@@gigiwan3335 literally one of the lowest unemployment rates in the world, what are you on about ?
@@gigiwan3335 egypt is witnessing the first stages of being a tiger economy and nothing can be done to stop it
من الأردن تحيا مصر العروبة🇯🇴❤️🇪🇬
💚💚
@ⲡⲓⲧⲣⲱⲗⲗ ⲛ̄ⲕⲏⲙⲉ 😂😂😂😂 لهل الدرجة حارقيتك العروبة؟؟؟ 😂😂 عيش الواقع وفيق من حلم اليقظة يلي انت عايش فيه اسمها جمهورية مصر العربية شاء من شاء ولطم من لطم تحيا العروبة تحيا الأمة العربية 💪✌️🇸🇦🇸🇾🇯🇴🇲🇦🇪🇭🇦🇪🇾🇪🇹🇳🇪🇬🇴🇲🇱🇾🇱🇧🇮🇶😉🖕🖕🖕🖕🖕🖕🖕🖕🖕🖕🖕🖕
مصر والأردن في قلب واحد ❤️
@ⲡⲓⲧⲣⲱⲗⲗ ⲛ̄ⲕⲏⲙⲉ ايوا احنا مكناش عرب بس استعربنا وحاليا احنا اسمنا عرب فأقبل وخلاص
@@ziadadel6678 ♥️
Respect to Egypt from Cameroon 🇨🇲
It is time for Egypt to shine again
Make Egypt Great Again MEGA!
Great job, it is very rare to find such a well-informed in-depth analysis of the situation in Egypt. You made a PhD-worthy effort in your research for this video.
Thanks for the support Ezzat!
@@AltSimplified his real name is abo ezzat
As an Egyptian watching from Cairo... I would like to say that the world shall see a new strong and rich country of Egypt on the next 10 years we are building our country to race the world again
Long Live Egypt ❤️🔥🔥❤️
But only if Al Sisi leaves
@@Super_SaiyaBeast lol
@@Super_SaiyaBeast al sisi is the perfect leader on this dangerous time we are going through...
Dont believe the media hes doing really good job .
@@abdoalgamal714 agree, Egypt was dead after 2011 revolution, it's even a surprise we live in peace now
@@Super_SaiyaBeast lives***
I'm Egyptian.
Thanks for your video.
the most honest video i've ever seen about Egypt, thank you we really are in a boom now in every thing
Thanks for the support! We enjoyed making the video 👍
Yes , especially in the reproduction rate.
Especially when it comes to population growth rate, which is plaguing the already overcrowded nation and still hasn't been addressed as a negative issue. Mohammed Salah and the rest of Egypt celebrated finally hitting a population of 100 million, as if it was a milestone that one should be patriotic about. The mindset still generally is "The more of us, the merrier."
I have hopes for y'all, but this is probably the most severe problem out of anything you're experiencing, and it's especially worrying now that efforts aren't being taken to reverse the trend.
@@TamerEldegwy We have our lowest fertility rates since 2009 man and it has been steadily declining since :'D
www.macrotrends.net/countries/EGY/egypt/fertility-rate#:~:text=The%20fertility%20rate%20for%20Egypt,a%200.72%25%20decline%20from%202017.
@@zeyadshalaby6009 a high fertility rate is no problem if egypt can expand in the desert instead of the nile delta and find an alternate source of water.
Egypt the ❤️ of the world 🇪🇬
@A A
Hahahaha okay
@A A 🤨
@A A Okay AAA battery ... Regardless of your nationality ..
I don't exaggerate because I don't need to do ..
If you don't love us we love others except who hates us and if you visited Egypt you will love it and if you didn't it doesn't matter . Because there are a lot of people love us and we love them Russia , Pakistan , USA , UK , France, South Africa , Italie , Germany , India , China, Turkey, more and more , and we love them all .. We call Egypt " the mother of the world " ...
The civilization We made it when the world was nothing but dust ... And don't talk on behalf of the world ...
🇪🇬❤️🇪🇬❤️🇪🇬❤️ Long life Egypt ..
@A A I appreciate your advice .
But I have some comments about what you said .
There are a huge difference between Turkey as a state and the turkish people so when I say they love us " as I saw " that means that the turkish people do not the government and Mr "Erdogan" who I don't like . And about libya see who won in the end . Egypt encouraged Hafter and Turkey encouraged Alsarag government and egypt when Alsarag military defeted Haftar's Sisi told them that SERT AND GOAFRA IS A RED LINE AND WHO OVERCOME IT THE EGYPTIAN ARMY WILL DEAL WITH HIM and sence then Alsarag and Turkey couldn't overcome it .. and what SISI said happened and a new government had formed and the president of it was with Sisi tow days ago ... And guess who won .. EGYPT of course .. and in the Mediterranean who won Egypt with Cyprus and Greece and also we dominated on the Mediterranean gas ...
And about the Chinese I don't deny that they have great civilization but EGYPT 🇪🇬 was the leading one due to its inventions and unbelievable monument ....
بتتفشخر على ايه كدك خيبة
as an egyptian, i cant describe how much i love this because its not biased and its very accurate
As an egyptian yes we are doing good especially in the next 3 years we are fixing 4584 village hosting more than 55 million on 3 stages 1500 village per year this will make poverty which is 29.7 million currently to drop by the majority also with unemployment to drop even more then what it is now
True
Stability, prosperity and success for Egypt, mother of all countries!
It's 2023, any update.. Egyptian pound devalued again....
It is great to finally someone on RUclips take about the recent development
I agree
As an Egyptian I believe that the idea of government owning companies and running them is by far the best way to destroy an economy that I have ever seen in my life. In Egypt when you work in a government owned company you are always guaranteed to get your salary regardless of your work. So you can simply not work at all and get paid even worse nobody can fire you after a certain number of years I guess it was something like that. So as you may have imagined what happened was the companies turned into family businesses with executives hiring their families and friends who most of the time were just about the most useless unproductive people you could imagine not only that but when they ran out of jobs to give they started making new jobs to hire their people 🤦🏻♂️🤦🏻♂️🤦🏻♂️.
So now you have a company with a lot more labour than it needs to operate most of them are useless and don't work at all, and nobody can fire them. Now the icing on top, people did work after their retirement age of 60 preventing the company from having the much needed and most productive youth. Oh, I forget all their work is paper based because all these old useless people that should have retired a decade ago can't use computers.
Now that is the corruption you were talking about. Also I forgot to mention that the CEOs were always retired military generals who had no idea about the business they were running. You see it's very deep down and subtle, most importantly it's not the high positions in government in fact those are the ones combating this.
By orders from the president himself all companies owned by the government that work in the same sector should be united under a single company which is the best performing company between them. Then if this one big company does not make profit it will be shutdown, and no one will work after the age of 60. Those were the orders to the minister of business from the president. Then he started basically implementing the policy to shut down the companies with the least amount of money that he would have to pay for the people after they lose their jobs.
Now all the companies are of course fighting the minister by all the means available to them and trying their best to remove him from office.
I know all this for a fact because my dad is kicking his ass trying to keep one of those companies alive. My dad is on the board of a government owned company and fighting day and night to keep the company alive because if he didn't 4000 people at least will lose their jobs. Well, I don't think he can do it. Not when the rest of the board are retired military generals who couldn't careless about any of those 4000 people. Yes my dad is the only civilians in such a position and the only one who actually had the experience and qualifications to run that company that he worked in and managed for the last 25 years.
I really hope the minister close that company my dad is 55 it won't hurt for him to retire a couple years earlier.
The same here
However they should at least find another source of income for the 4000 or it will be a crisis
seems like state owned enterprises are the same everywhere in developing countries. Here in China it's the same thing. SOEs are basiclly 80% politician's relatives who don't even show up to work, and 20% poor souls who do all the work.
The reason China could work somewhat dispite this is to let private company compete with them. For example, Banks used to be one those smerks who doesn't give a shit about customer service. But ever since alibaba/ali pay start to provied the same banking service and compete with them, all of a sudden, Bankers start greeting their customers with smiles and candies.
i think the same experience could be borrowed by Egypet as well.
Interesting, but why didn't the Egyptian minister of business simply chose the option of privatization, that would have solved a lot of nepotism and corruption issues very quickly.
@@rtr0_insn323 It happened before in 2010 and those private companies failed
Also firing this number of people led to protests back then and instability
@@rtr0_insn323 Recently, the Minister of Business Sector liquidated the ancient state-owned Iron and Steel Company due to its incurring large losses and the inability to develop it, and the people's reaction was to accuse him of treason and neglecting one of the symbols of Egypt
As an Egyptian, I think your video was bang on. However, one aspect you missed is the great improvement in infrastructure that happened over the past few years, as well as the increase in road quality. Also, Egypt was famous for it's never ending slum neighborhoods where the people didn't have access to power, clean water or even roads. In the past few years, the government has been relocating the reaidents to new neighborhoods, while demolishing and rebuilding the slums with the necessary infrastructure. In general, I think it really is getting better even though there are still many negatives. Thank you for your informative video.
Thanks moustafa. Yes the infrastructute improvrments including and beyond the 20 new and proposed cities are impressive 👍
Good to know. I've long been interested in buying a property in your country. I visited back in 2017. It has so much potential but corruption has been holding it back for far too long. Hopefully, they address it and improve even further.
@@-glitch-8195 You definitely should check out the new cities being built, phase 1 of most of them should be completed by summer. I would recommend the New ElAlamein City for the best beaches in the region. Also, the New Administrative Capital is also a very good choice, since the governmentis moving there this summer so that should increase demand on units, as well as it's proximity to Cairo (40km to downtown Cairo and 25km to the nearest suburb). I think these are your best bet for profits and are already close to established cities so you could easily rent or use it yourself.
@@MoustafaEwida Do you know any legit real estate agents there? I've been trying to get local contacts and would love to get some information because I do plan to get a place by the end of the year at least. Appreciate your input though. I'll definitely take that into consideration.
@@-glitch-8195 Id have to ask someone, since I haven't needed one yet. But i'll get back to you ASAP. Also, a small piece of advice, do your research before even talking to an agent, and have an idea of what you want, since they will try to sell you the stuff that doesnt fly off the shelves
the incredible work Egypt has been doing is incredible I remember a few years back we had a problem that a lot of places in Egypt had no water running to it and I remember that even In Cairo the water and elec can go out for 2+ days now we literally can't find places to deliver wifi cuz they already have it
True, so many improvements
@Gamer_Gangster7 yes it happens rarely nowadays and its mostly because of the new repairs they are doing like building the mono rail that goes to the new capital or making new roads
@Gamer_Gangster7 the power and water cut in Egypt in 2013 was for political reasons not an economic one as the deep state there was not really fond of the newly formed government and do all they can to turn people against it
but thankfully this happened as Egypt was ruled by Muslim brotherhood party and it was slowly turning to modern-day Iran
the bad thing is the army still holds the power and there is literally no political life of parties now
*We're Egyptians we're proudly Africans and we Love the whole world and our brothers from everywhere*
Peace and Love 🇪🇬⚘
Do you love your leader????? Curious.
@@hungerquest7862
*You sound very brain washed!*
@@Sherifsound. no I am asking dude I am not making any assumption he did came to power as martial law administrator I didnt mean to offend I am legit asking if anything offends I am really sorry jsut curious to know situation there.
@@Sherifsound. I am from turkey and I hate Erdogan jsut wanted to know are Egyptian satisfied with their leader.
@@hungerquest7862
*We all Support our president he's not a dictator .. he's actually one of the best presidents in Egypt's history*
All you hear from the brotherhood Erdogan media is FAKE.
I'VE Turkish friends where I live n they all hate Erdogan by the way.
*🇪🇬✌🏽*
Long live Egypt 🇪🇬 💙🤍
its very simple : Egypt has a future only if it optimize water management and do some terraforming.
Thank you my Greek brother come visit Egypt on day
Should have talked about The New Egyptian Museum. It will be the world’s biggest museum! 🇪🇬
I think this channel does an amazing research!! It would be lovely if you make a video of what would have happened if some countries in EU never adopted Euro or the importance of nacional vs multinational currencies!!
This was really objective and informative 👌 Good Job
Excellent overview of the history and current state of the Egyptian economy. Very informative!
This was overwhelmingly informative, and it did give me a summarized well-rounded idea about the main aspects of the current economy! Sending love
I'm an egyption live in Egypt I see alot of change on different aspects, I fell the change in my dealy life, I know it's maybe a tough time for the egyption people but I fell things will get better soon
that was not easy, good work!
enjoyed watching from Egypt
One of the more complex storylines we've covered 👍
very informative thanks mate
🧞♂️ Great job and in-depth analysis of what’s happening in Egypt
Wow one of the most comprehensive explanation of the Egyptian Economy since the republic was announced in 1952 !! Very neutral, well researched
Watching this from Giza, I can tell you that Egypt basically looks like a big construction site at the moment. The economy just became #2 in Africa overtaking South Africa and poverty lates have declined for the first time since 1999 last year.
@@Omer1996E.C Where did you get this information from what is its source
@@Omer1996E.C source: trust me bro.
بطل هبد ها
@@i27m4di5 mesh beyehbid wla 7aga, google it ya bro, e7na 2021, fawa2 keda
@@egyptiansoldier6535 ana kont barod 3la wa7ed masa7 el reply bta3o. Ana msh 3aref enta bttklm 3l comment wla el reply el etmas7😂
@@i27m4di5 what did he say?
one on the most comprehensive review of the history and the current situation of economy.
thank you everyone involved in making such an amazing video
You're most welcome Ibrahim.
Man! we need more of this unbiased analysis of our economic performance. We lack this in Egypt. Thanks a lot for the effort and wish this channel a lot more prosperity
My country. 🇪🇬💖💪🏼 ..... Rock on Egypt.....great work man
The economy history of egypt is very similar to the one of argentina. Also same results
yeah true
I’m Egyptian, and I was just debating about this with a friend, it is true I hope god helps us 🤲🏼
Thank you.
Nicely Explained!
Love Egypt! From Bangladesh 🇧🇩❤🇪🇬.
Great video 👍 i hope you do a video about Algerian economy .
It's basically a mix of venezuela and iran lol
Good vid but I think u missed mentioning that's in Egypt economic plan , is being a power suppling center for Africa and Europe with a the gas fields being discovered and gas imported from neighbors for liquidation.
Excellent work 👏
Thank you for your video. Egypt is currently witnessing many mega projects in many sectors that aim to improve not only the economic performance of the country but also people's standards of living, moreover stopping subsidizing bread is being discussed in the media.
I have not been to Egypt for a while but got a good impression of its economy in 2011-2013 .
The construction boom is nice, but without developing a substantial export sector outside natural resources Egypt will never thrive. What is most frustrating that even the most easily developed exports, agricultural products are under-explored. While Egypt is and will stay a net importer for grains it has significant potential to turn the delta into "the garden of Europe and the middle east". For an example look to the Netherlands.
There was a chance to turn both ends of the Suez canal into light industry and commerce hubs. Got wasted because it would have meant foreign money and influence, which the military does not want.
Another indicator of structural problems is Egypt's export of its talent. I like to say "I would never hesitate to visit an Egyptian doctor, but never visit a doctor in Egypt." - I was surprised by the high level of educational standards in the upper middle class and shocked by the sharp drop its takes to the poorer population. Egypt does not make good use of its educated population and the one chance is had post 2011 got wasted.
Overall I'm pessimistic. The military is not inclined to let power go for fear of Islamists (which are a real issue) - which means corruption and government intervention will stay high and foreign investment virtually non-existant.
Beholding a major shock and shift in government Egypt will stay poor and crisis ridden for the foreseeable future (~15 years).
ehh.. you are right but other than the last part .Egypt is now spending billions of universities and schools. especially in new cities. If anything the new cities will be much like the west and the old cities might stay poor. but less poor than now.
Your first part is kinda true tbh, however, Egypt is in a horrible water shortage, so exporting agriculture is not an option, atleast wothout improving technology in these areas to reduce wasted water. Also, the Suez Canal project is actually being built right now. You can search Suez Canal Economic Zone on youtube and find many videos on the topic. Your view of Egypt is the exact same view everyone had in the early 2010s, but honestly I am starting to see step bystep improvements that I thought I woulf never see. I bet if you visit Egypt now, you will be surprised by the changes.
@@Menes3150 Well, investing in education is good, unconditionally. But that doesn't solve the economic issue all by itself. Educated people need to perform productive jobs in productive companies. I see little progress in (ligtht) industry in Egypt. Back when I was in Egypt I was scratching my head why Egypt wasn't the "India of the middle east" selling services. Maybe there is progress here.
What I'm using as a point of reference here is Turkey (yes I know Egyptians don't like to be compared to Turkey) - Turkey was doing fairly well, before Erdogan created enough political instability to make the economy suck, building a light industry sector. Egypt has the same potential, but I just do not see it happen yet.
@@MoustafaEwidaThanks for the update on the Suez Canal project - was delayed so often I lost track.
Oh the water myth. Well that's what your government says to distract from incompetence and unwillingness. The trick here is "virtual water". Egypt could become a net exporter BY VALUE easily. By would stay a net importer BY VOLUME. The trick is to import cheap water intensive products (wheat, corn),and export high value "more Euros per cubic meter of water" products like fruit, vegetables, flowers. Although Egypts geography is not perfect, with the Gulf and Europe in reach for high value produce it can work.
@@michaelrenper796 I have studied into what egypt is trying to accomplish by 2030. And it shows that egypt is trying to create newer and stronger sectors in the economy. Such as medicals, industrial, and tech sectors. Also egypt is already trying to create stonger and bigger tech, and its already happening. Look at some new cities for example , they will require tech to be initiated in every day life. Also back in the year 2000, turkey had a nominal gdp of 900 billion before Erdogan consolidated his power. Now the gdp of his failing county is 600 billion. I do see that egypt and turkey are similar in a few different ways , but frankly, egypt is doing more of what it wants to do than turkey ever did. Just look at the economy for example. in 2010 egypts gdp ppp was 500 billion. Now its 1.3 trillion. While egypt is more ambitions, egypt would more likely complete what it tends to complete. Egypt is already porjected to be one of the worlds largest economies by 2030 in gdp ppp. and this year egypt already outperformed almost every country on the planet in economic growth . when last year its gdp nominal was barely 300 billion. Now its 364 billion. making it the 34th largest economy in the world , up 9 places from last year. Even though some of egypts sectors didnt work properly because of covid.
Love Egypt ❤
I think you coverage is very balanced and insightful.
Very good analysis!
The Egyptian giant has woken up 🇪🇬💪🔥🔥
@A A 🤐
@A A bro when you see Egypt does not have water talk but Now shut up
@A A What do you want to say!?
@otto Lincoln lmao, obviously you are watching the wrong news 🤣
@otto Lincoln mercenary rigttt what a shit talk boy look first Egypt want to finish the Ethiopia file peacefully and if Ethiopians didn't help I can say to you Egypt will hit this dam and u will see so don't talk shit
Seconds sisi increase our Egyptian economy make our army stronger the 9th stronger army in the world make new cities made the poor people love good life by making them go the new houses good houses as he export oil and gas to Europe and most importantly make Egypt the stronger and biggest country in the middle east if u can't see it blind
Its more than a promising economy, its the future of a well built plan from its leaders and an understanding people of egypt that can witness day by day progress in all fields of life
Very informative 👏 thanks
I really like the way he describes Egypt as bad and good with no bias towards any class.
I really loved the video and enjoyed every minute
hope you present us new videos with these kind
I'm an Egyptian citizen btw
Many old towns have financial cores that are hard to navigate and do effcient big buissness. I think if Egypts new capital is successful and can take a million plus people out of Ciaro, it will give them the ability to begin rebuilding Ciaro with larger areas that are modern and efficent, while still being able to keep key older neighboorhoods and buioldings for tourism. Emptying the city to refill it will make it a better modern economic city.
I agree. The new capital is designed to house 7 million mostly out of Cairo. They’ve also made sure to revive all the historic old sights in greater Cairo demolishing the ugly unplanned buildings and restoring old buildings for tourism.
In order to refurbish historic cairo, we would have to relocate many people due to the swaths of slums present there, literally millions on top of millions living there, so that’s very unmanageable right now, maybe in the future if the macroeconomic conditions improve, that would certainly be wonderful change and a huge boost for tourism revenues.
and the new economical capital too
@@frumpyk3245 China moved billions!!!! it all depends on the capitols inpact on teh economy. if it helps to deversify and stregthen the economy it could be possible. A wealthy Egypt goes a long way for a healthy Middle-East and North Africa because its huge population. With its population, if it could totly rebuilt the effects owuld be felt far and wide.
this is exactly what the government is doing actually
Wow wow wow !! I'm surprised to find someone from the west speaking the absalute truth about Egypt !!
Egypt will have a complete new face in few years to come !
Thank you for this truthful video !!
Lots of love and good wishes from Egypt !!
I’m also a westerner speaking well of Egypt 😉
Love ur video
Your channel is underrated to be fair
Too kind! Really thrilled to get any traction 👍
Impressive! as an Egyptian I like the neutrality and specificity in your analysis it was really subtle and simple, I closely watch our country's progress since 2011 revolution and I believe we're on the right track!
Am Egyptian, this is very fair and neutral analysis tbh ! hopefully all can be better soon ✌
Glad to hear it Z Potato!
Watching such a Great analysis about our promising economy makes me overjoyed and you deserve my heart not only a like 💙 ..your organisation and and the ideas all are unbelievable ..i expect more
Nice video😄😄
Well done, very well said analnysis. To me corruption is our greatest threat if we manage to reduce it then I think Egypt would be in a different place and it would very much assist Africa and our neighbor countries.
Some people are crying about poor people
The government is spending 515 billion Egyptian pound on developing villages of poor people
New roads
New schools
New hospitals
New flats for the homeless
Rebuild damaged buildings for poor people
They are turning my village 180 degree
I won't watch any Turkish anti Egypt propaganda again
Loved the video
I loved the video
Slowly but steadily yes its improving
Guess I am kind of late this time 😅
Sorry man couldn't be in the discord server
Next time! Will be live at midday GMT today as well for a general chat 👍🕛⌚
The most peaceful country 🇪🇬
that’s a lie
@@hamzamohamed287 Then tell us the truth
@@Egyptiangamer77 Singapore, New Zealand such and such.
Norway, Sweden you get the drill.
Tell me more about Christians
Good, solid analysis. What I would add to this though is some bold reforms including cutting subsidies on energy and petrol, in addition to going from an energy deficit to surplus. FDI and tourism will remain key for the coming years, but I believe Egypt is very much on the right path to a prosperous economy by 2030.
Grate analysis 👏🏼 .Imagine that the pandemic didn’t happen, it would have defiantly been a very successful year . However we know there is still much to fix but for sure we are heading in the right direction. Long live EGYPT 🇪🇬
Proud to be Egyptian
Long live Egypt
an egyptian watching
+1
+1
+1
+1
+1
please always open the subtitles
Automatic subtitles should now be showing 👍
All I can say is BRAVO
The main problem of Egypt is the overpopulation
It is a big problem in egypt 2 million new borns add to the total population every year
Overpopulation and very little resources
the main problem is the government
@@M.Ghilas the government is working on the over population problem and they're goal is to lower the number of new borns from 2 millions to 400 thousand
@@Bemen50 yeah I know
Here in Egypt, the government tell us only the good side of the story, there's no room for criticism by any mean, but you showed all aspects of the story, and that made me realize the real situation we egyptians aren't allowed to know.. Great work 👍
thats the result of a dictatorship. The Goverment isnt gonna take Egypt in its potential, since dictators are mostly interessted in themself and since in Egypt (as far as i know) no one is speaking up agaisnt the current President and somehow just accepted fate, its not gonna change and Egypt will fall in a dept hole full of bad events that might cost the nation a lot.
@@killuazoldyck7216 dude, lots of people talk and speak against them but when someone talks he goes to jail, it's not fair but it happens.. No matter how many people talk they all go to jail eventually.. You know how many prisons are built every year?
There's no room for freedom here.. We made a revolution once.. We did it before.. When we can't do it anymore, you have to know it's almost impossible
@@osamatammam8894 I know. It might seem impossible, but trying will be worth it. Look at Iran or China these are much harder dictatorships and still people demonstrate. Also egypt once did it. U had once a democratic selected president, but u didn't give him even a year to rule and welcomed the military coup and still to this date Egyptian support that dictator, which I cannot understand. Corruption has been a parasite in Egyptian Government and society and the government will take the country into Ruin and yet many Egyptian seem to support them, why?
@@killuazoldyck7216 not all egyptians support him, most of ordinary people don't, but the majority of powerful people do.. They have the power to affect the view of the situation..
@@osamatammam8894 I really hope that once a day u get rid of that gover. For egypt is a beautiful country with the potential of a lite superpower ,but the current policy and government is a parasite, eating the country from the inside.
This was a surprising neutral look into the state of the Egyptian economy. No Politics no BS just facts and numbers
This came in my recommendations and i have an economics project about this
Egypt used to be the breadbasket of the Mediterranean but now it's the world largest importer of wheat, that's just disturbing if you ask me 😨😨😨
Their state grain company is the largest single buyer of grain in the world!
We don't eat wheat only..you lost your logic
Well yes when the population was smaller much smaller
Although I do believe innovation in the agricultural center is needed and we will hopefully be wheat independent fairly soon from my understanding
@@ziadhaithemamin1431 مصر تعتبر لديها اكتفاء ذاتي من القمح ولكن دعم الخبز هو السبب في كثرة استهلاكه واستخدامه كعلف للحيوانات لأنه ارخص من العلف نفسه ثاني شيئ الحكومه تشترى قمح فائض يكفي مصر ستة أشهر بمعنى مصر تنتج تسعه مليون طن هذه الكميه تكفى المصرين ثم تقوم الحكومه باستيراد من خمسه الى سته مليون لعمل احتياطي يكفى مصر نصف عام احتمالا لاي كوارث في العالم مثل أزمة كرونا مع مشروع توشكى والدلتا الجديده سوف تحقق مصر الاكتفاء فعليا خمسه وسبعون في المائة وسوف نزرع ايضا دوار الشمس والذرة والصويا لتصنيع الزيوت والان مصر لديها اكتفاء ذاتي من الخضر والفاكهه والسكر
Can you do the economics of Algeria, Tunisia, Libya and Morroco?
@Temp Temp why are they "dead countries"? aren't they still developing?
you should pay them to do that , be smart .
Economics of tourism series. 1 vid per quarter , can we?
Stumbled upon it in my recommendations, as an Egyptian this should have way more views due to the neutral perspective it offers! Thanks for doing your research on the matter.
I can't wait to see the world have eyes on South Africa (Azania) again. When South Africa does something, they always go big.
Sovereignty debt crisis and IMF bailout, coming 2024.
Keeping my eyes open. I hope it's going to be positive.
@M&M when they built Nuclear Bombs before most could
🌟In America, we see Egypt as one of the most important nations in human history.
For a nation like that to go through almost a century of setbacks sounds devastating.✨
They must be extremely resilient and destined for greatness after the events of arab springs. ✨My intentional consulting and investments practice allowed me to learn more about how Egypt’s recent military governed administration is rebuilding the nation. ✨Achieved real economic growth in 2020 (ranking the 19th in GDP by purchasing power parity). The surge in production across several industries liberating the countries dependencies in Energy, food, security and education. ✨Playing to its advantage in soft powers with it’s neighbors in Africa, Arabia, Mediterranean Europe & global trading partners like China & India. ✨I personally predict a significant improvement in Egypt’s economy and solid growth the coming 10 years or so.💫
Love from Egypt🤝❤️
What happened to egypt in the last decade is miracle
This video very impressive and a lot of info and historical info you gathered in this video , I think the economy will have problem in future unless it converted to more industrial model and this dept issue still the biggest threat for all the economy Plus if US interest rate rises we will see problem in Egypt's dept .
How about this for idea : Syrian economy how it held for ten years and how can it recover
It may be much similar to Egypt if you liked searching for this one you will like that one also
Syrian economy doesn't even exist so that it can recover...
@@rdg665
From your name it seems you are probably Russian
So you should know better that its not true
Yes we are f***ed as people
But the country still have the means to be rich
It happened to most social states at some point in history
For example even if the situation in Syria got 4times worst
It still won't reach the low point that Ukraine and some other states reached at some point
Add to that the new oil and gas discoveries
And the ancient sites that once used to get 8,6million visitors a year
Plus it's religious importance to many
Again the country mostly recovered
The only major economical crisis is the people life coality one that I don't deny as the average salary is indeed just 15$ a month
But if you looked at the situation of the country it still has free education free healthcare and this 15$ a month is still enough to survive bairly enough But enough non the less
And once the sanctions is removed it will almost instantly get much better
@@alisalloum9893 Well iam Egyptian tho not Russian
And yeah of course you know more about the situation than I do , It's just hard to imagine as a foreigner how you can have an economy with such destruction and danger
@@rdg665 we dont claim you
@@msha6637 Huh ?
Thanks for the nice video, as Egyptian I have a few comments: 1- military did not take over, but the president was elected(truly was the most popular candidate by far), after a transition period that was led by head of supreme court, following the June 30 revolution, when Egyptians stood up by millions in streets against the Muslims brotherhood rule (they ruled one year and it was catastrophic in all aspects), so having a president with a military background doesn't mean military took control, there are many examples across the world and in modern history in democratic nations. This is more failing into stereotyping and media propaganda trap. 2- in addition to the new cities there are some other mega projects happening in oil and natural gas sectors, giving Egypt a great position as an international hub for NLG. Also to mention with all work on roads network, Egypt now is ranking number 28 in road quality list, after sitting on 118 rank until just 2 years ago.
3- Regarding to the challenges they are so many and you mentioned the one with Ethiopia dam, which is true, however there some other big ones, with Egypt's borders from west and the conflict in Libya, fighting terrorism there as well in east in north sinai( funded and supported by Qatar and Turkey to distabilze Egypt- they host and fund as well muslims brotherhood). And many others...etc. alot of good things are really happening in Egypt, with a confident big steps, despite all challenges.
...................................
Reply@kusari86(below comment) : Well, obviously your comment tells who you're, of course a brainless MB!! Who else would try to spread lies like you!! You go with your funded propaganda especially in Europe and America, because people there don't know the real ugly face of muslims brotherhood, you hide behind democracy but once in power 👋 democracy!!Qatar is funding generously and giving you space in international media to do so. You say millions of Egyptians in prison?? I think you're mistaken, they must must billions... any other bid here??!! You talk about democracy?? How about the constitutional declaration in 2012 by your democratic territories MB? That gave Morsi the whole power and made all his decisions/laws cannot be appealed by anyway or to any entity!! For the first time in history! How dare you speaking about democracy!! How about torturing the opponents by MB militia in Al Etihadya!! Who burnt churches and bombed police stations?? How about Al Beltagy (one of MB leaders) who said after removing Morsi ....'' What's happening in Sinai ( reffering to terrorists attacks) would stop, the moment Morsi back to office!! Very peaceful democratic terrorist group, right!! I speak facts, you speak nonsense!!
Elected! 😁
@@MrCodered66 Short answer YES elected!! FYI election was monitored by domestic and international observers, including Union Europe. Would recommend rather than typing this kind of clowny comments motivated by your background or beliefs which I don't know, you better really know what are you writing and not just unobjective echoing!! BTW your name doesn't look Egyptian, would love to know what's your country!
This is the most ridiculous comment I've read in a long time. Egyptian elite and military has ruled Egypt for decades and made it a third world country when it was once the richest in Africa and the Mideast. Millions of Egyptians are in prison for political reasons and international observers including US gov says they're regularly tortured. When the MB won elections local and international investigators found that the military elite sabotaged infrastructure, economy and security to make democracy fail and so gullible and uneducated people like yourself plead for dictatorship. Gulf states like Dubai and Saudi were also funding terrorism to destabilize Egypt. Democracy was never given a chance.
It's extraordinary how that many people gloss over the 30th of June, 2013. It just tells how big media knowingly neglected the whole thing, too much so that many of us still need to remind people (esp. foreigners) that millions and millions of people took to the streets to oust Morsi (yeah the democratically elected Morsi and so on) after the Tamarrod Movement and all its millions of signatures registered to call for early presidential elections while Morsi was in office. See, a democratically elected president fears being democratically evaluated after a year as president but oh well, anyway, back in the day's political groups and parties were fiercely against Morsi and his Brotherhood. Suddenly everyone either conciously forgets or willingly ignores that that's how the situation was.
The MB grew more snobbish with time, until Morsi gave his pre-30th of June, 3-hour speech, inciting violence and hinting at armed clashes with the Army and civilians. The rest is history. ;)
@@ermiaozimarius2456 Well said👌also to mention, Morsi was elected and became a president by 51% not because people loved him nor the MB, but because the other candidate Ahmed Shafiq, was considered as a part of the old regime, that people didn't want, and also after so many promises from MB to all parties and to Egyptians, that they will include everyone and their loyalty to be only to Egypt not to the group ( al jama'a MB) which turned to be lies and false promises. Doesn't mean a president is elected that he's untouchable and he can do whatever he wants( in this case even president Morsi in fact was just a puppet and MB group was ruling the country, Morsi just excute). Remember, Hitler was democratically elected!
Now Egypt is soo beautiful
Did you guys change your channel name? I just noticed the Economics just now 🤔
Hi side-fish, we're trialling it with the economics part. Provides more clarity but not sold on it yet.
Ah, I see 🙃
correction: military spending in Egypt in 2019 was 1.18% or $3.74B. IDK where did the channel got its info from, but it might need to provide its source.
Thanks for the info. Just to clarify, which time stamp in the video are you talking about?
@@AltSimplified 0:26
@George Elmasry يا استاذ جورج ميزانية الدفاع المعلنة في 2020 كانت 11 مليار دولار و في 2021 اتخفضت ل 10 مليار ود دا يعتبر قليل جدا بالمناسبة لجيش بالحجم دا ممكن فعلا الارقام دي متكونش الحقيقية بس اكيد متوصلش ل 50% وإلا تبقا باظت خالص و طبقا ل صندوق النقد الدولي اجمالي الناتج المحلي في 2020 كان 361.8 مليار دولار و لو فعلا الميزانية 50% هيبقا مبلغ ضخم جدا معتقدش ان حتي ميزانية الدفاع الامريكية توصله
@George Elmasry do you even understand what "50% of the economy is in hands of the army" means lol. Indeed they hold a significant amount but surely not even close to 20%.
@@fayezhesham1057 thanks. This was a reference to the 70s, as we highlight 5 year plans and nationalisation either side of this stat (all big policies of the time). Later in the video we discuss this in greater detail, through a graph and provide the source (World Bank). Hope that helps 👍
Hopefully no one will attack it this time to interrupt its progress
Be positive
Ethiopia , unfortunately
Egypt hasn’t been attacked for decades. Half a century really. The only time it was attacked was in 1956 in recent memory
You need to put arabic subtitles it would help you a lot , and great information most people in egypt don't say the truth
Good overview touching on key points. Looking forward I believe the Egyptian economy will boom for several reasons first the government is taking very courageous and bold steps for reform (cutting subsidies, property tax, national health insurance, education, etc). Secondly the government is listening to the private sector and people with it pledging to sell stakes in military owned companies (see watanaya). Third interest rates have halved from 20% in 2016 and is on declining trend which means money will inevitably move out from bank deposits to the stock market, investment and real estate boosting GDP. Fourth the Libyan and Sudanese markets will open solid opportunities for investment, exports and jobs. Fifth is the East Med project.