The Rebirth of Egypt
If macroeconomic indicators are to be believed, Egypt’s economic growth has ground almost to a halt over the past three years. Worse, however, the past three decades attest to the failure of conventional macroeconomics to guide policymakers in managing development.
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CAIRO – If macroeconomic indicators are to be believed, Egypt’s economic growth has ground almost to a halt over the past three years. Inflows of foreign direct investment have dried up, and GDP growth rates have plummeted from as high as 7% in 2008 and 2009 to merely 2% in 2013. But are the indicators to be believed?