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Disappointing Economy of Egypt

Egypt, one of the world's oldest civilizations, boasts a rich history that stretches back millennia, characterized by its iconic pharaohs and monumental achievements. Predominantly situated in northeast Africa, it also has a small presence in the Middle East, flanked by the Mediterranean Sea to the north and the Red Sea to the east. This unique geographical position not only gives Egypt a stunning array of landscapes but also enhances its historical role as a vital crossroads for trade and cultural exchange. The majority of Egypt's 104 million people—approximately 95%—live along the fertile banks of the Nile River, which is the lifeblood of the nation. Urban centers like Cairo and Alexandria buzz with activity, contrasting sharply with the vast expanses of the Sahara Desert that dominate much of the country. However, beneath this vibrant surface lies a complex web of economic challenges that have roots in historical missteps. Decades of failed industrial development can be traced back to poor planning and heavy bureaucracy, which have stifled innovation and growth. Policies aimed at boosting exports often resulted in a persistent trade deficit, further complicating the economic landscape. An overvalued currency has made Egyptian products less competitive on the global market, while weak property rights and underdeveloped institutions have deterred both domestic and foreign investment. Compounding these challenges is the significant influence of the state and military over the economy. Under President Abdel Fattah al-Sisi, Egypt has seen a borrowing spree that has left the country grappling with heavy foreign debt. This growing burden has led to a cautious response from foreign creditors, who are increasingly reluctant to lend. As a result, the Egyptian government has turned to domestic borrowing, even as interest rates surge, which only serves to inflate deficits further. So, in today’s video. Let’s take a look into the economic instability of Egypt. Subscribe:    / @visionomics2633   Source:    • Cairo Amazing 4k drone footage (  Egypt )      • Egypt: population growth declines to 1.4%      • Population reaches 100 million people in E...      • Stuck at sea: Cargo ship wedged in Suez Ca...      • Manufacturing Flexible Packaging in Egypt      • Egypt launches initiative to strengthen ma...      • ‘Supergiant’ natural gas field discovered ...      • Egyptian pound plummets to record low amid...      • Ukraine hit large oil terminal supplying R...      • The Ancient Egypt in 4K      • Dubai, United Arab Emirates 🇦🇪 - by drone ...      • Egypt shows off its newest military power ...      • China is building a new Egyptian capital i...      • Cairo Amazing 4k drone footage (  Egypt )   #recession #economy #egypt