What about the economical policy?

Egyptian protestors are in the streets, calling for the government to step down but Egypt’s has deeper problem than a single politician holding on to his chair. It has its economical situation to be solved. Then what is expecting Egypt after the turmoil?

Since the turmoil all the shops and banks are closed. Most of all, the stock market is closed. By means Egypt is losing 3 million dollars each and every single day. Ok then where does these 3 million dollars come from? Well this money of consists of 6% coming from tourism. But now that has stopped too. The only thing that hasn’t stopped is the protestors determined attitude.

Yesterday night as I surfed in the internet trying to find information about Egypt’s economical situation since the turmoil I came across Deborah Hewitt, a Clinical Associate Professor of Economics saying that  ‘generally economic growth and expansion comes a desire for more political freedom, and that they are mainly  hand in hand and that they feed on each other.’ I kind of liked her way of expression praising freedom and economy together.

Now 83 million Egyptians are faced with distributional problems, they have governmental issues. But if we had to compare the economical terms of Egypt with Africa then we can say Egypt is better than Africa but worse then Asia economy. The Suez Canal is a major effect now. Tourism in Egypt is the first industry that has being impacted. Since the turmoil, 1 million tourists have left the country. Their budget defect can get to 12.3% this year. The world’s attention is now turned to Egypt. The analyzers are now talking about finding solutions for the Egypt economy.

President Hosni Mubarak has approved 15% of a pay hike for the government workers a couple of days ago. But will the 6 million state workers buy this promise given by the targeted President?

Tuğçe Birgen

09.02.2011