Counting the Cost - Who will save Egypt's economy?

2013-08-02 26

Egypt is a country 'too big to fail,' that is the thinking of Saudi Arabia, Kuwait and the United Arab Emirates, who are pledging billions of dollars for Egypt to underpin its economy. Long before the revolution two years ago, poverty in Egypt was chronic. For years, almost half of the population in Egypt was surviving on less than $2 a day. Critics say things only became worse under recently ousted President Morsi. Tourism has declined, foreign investors are looking elsewhere, and foreign currency reserves are at dangerously low levels. For people in the country, that means a lack of jobs and rising prices. What will happen next to Egypt's economy? What needs to be done to bring Egypt's economy and youth unemployment under control?

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