Egypt’s Economic Crisis May Not Be Over
The Egyptian economy has been pummeled by the Israel-Hamas conflict, with tolls and transit fees from the Suez Canal declining by 60% in 2024. International financial assistance has pulled the country back from the brink for now, but another crisis may erupt if the government does not implement long-overdue structural reforms.
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CAIRO – Egypt, a country long beset by structural and policy challenges that have resulted in low growth, high inflation, a misaligned exchange rate, and worrying levels of unemployment and poverty, recently averted an all-out economic crisis.