By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Geopolist | Istanbul Center for GeopoliticsGeopolist | Istanbul Center for GeopoliticsGeopolist | Istanbul Center for Geopolitics
  • Home
  • Geopolitics
    Geopolitics
    Discover professional insights into international relations, regional conflicts, and global power dynamics by visiting Geopolist. Keep up on the ways in which these changes impact…
    Show More
    Top News
    Operation Spiderweb: The Death of Strategic Depth in the Drone Age
    June 2, 2025
    The End of Vertical War: Operation Spiderweb and the Rise of Horizontal War-Making
    June 3, 2025
    Training, Reskilling, Upskilling: How to Create Jobs through the Green Transition
    April 13, 2025
    Latest News
    From Concrete to Cruise Missiles: IDEF 2025 and the New Face of Turkey’s Defence Industry
    July 27, 2025
    Sharaa in the Caucasus: Why Tehran and Moscow Are Getting Nervous
    July 26, 2025
    The End of Eurasian Illusions: Azerbaijan’s Strategic Realignment
    July 25, 2025
    “He’s a Madman”: How Syria Marked the Final Rift Between Trump and Netanyahu
    July 23, 2025
  • Security
    SecurityShow More
    From Concrete to Cruise Missiles: IDEF 2025 and the New Face of Turkey’s Defence Industry
    July 27, 2025
    Caught in the Crossfire: Iraq’s Air-Defence Puzzle
    June 10, 2025
    Operation Spiderweb: The Death of Strategic Depth in the Drone Age
    June 2, 2025
    Canada Seeks Entry Into EU Defense Pact After Trump Missile Demand
    May 29, 2025
    SAFE Plan Puts Turkey’s EU Role Back in Spotlight
    May 28, 2025
  • Commentary
    CommentaryShow More
    From Concrete to Cruise Missiles: IDEF 2025 and the New Face of Turkey’s Defence Industry
    July 27, 2025
    Sharaa in the Caucasus: Why Tehran and Moscow Are Getting Nervous
    July 26, 2025
    The End of Eurasian Illusions: Azerbaijan’s Strategic Realignment
    July 25, 2025
    “He’s a Madman”: How Syria Marked the Final Rift Between Trump and Netanyahu
    July 23, 2025
    India’s Strategic Mirage: Fusion of Kautilyan Realpolitik with Machiavellian Opportunism
    July 21, 2025
  • Economy
    • Energy
  • Regions
    • Europe
    • Middle East & Africa
    • Eurasia
  • Jobs
  • My Bookmarks
Reading: Egypt’s Economic Turbulence: Assessing the 2023–24 Crisis and the Path Forward
Share
Notification Show More
Font ResizerAa
Geopolist | Istanbul Center for GeopoliticsGeopolist | Istanbul Center for Geopolitics
Font ResizerAa
  • Home
  • Geopolitics
  • Security
  • Commentary
  • Economy
  • Regions
  • Jobs
  • My Bookmarks
  • Home
  • Geopolitics
  • Security
  • Commentary
  • Economy
    • Energy
  • Regions
    • Europe
    • Middle East & Africa
    • Eurasia
  • Jobs
  • My Bookmarks
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Geopolist | Istanbul Center for Geopolitics > Blog > Regions > Middle East & Africa > Egypt’s Economic Turbulence: Assessing the 2023–24 Crisis and the Path Forward
CommentaryEconomyMiddle East & Africa

Egypt’s Economic Turbulence: Assessing the 2023–24 Crisis and the Path Forward

Last updated: August 11, 2024 4:30 pm
By GEOPOLIST | Istanbul Center for Geopolitics Published August 11, 2024 759 Views 3 Min Read
Share
SHARE

Summary by Geopolist | Istanbul Center for Geopolitics:

The policy brief titled “Egypt’s 2023-2024 Economic Crisis: Will This Time Be Different?” was written by Ruchir Agarwal and Adnan Mazarei and published by the Peterson Institute for International Economics (PIIE) in August 2024. The brief explores Egypt’s current economic crisis, which has been a recurring issue in the country’s recent history. It highlights the challenges related to balance of payments (BOP) crises and the need for international financial assistance.

Key Points:

  1. Historical Context: Egypt has faced multiple economic crises since its establishment as a republic in 1952, often linked to maintaining an overvalued currency and relying on international bailouts due to its geopolitical importance.
  2. 2023-2024 Crisis: The latest crisis was triggered by external factors like the global economic downturn, the COVID-19 pandemic, the Ukraine war, and the Gaza war in 2023, which affected vital foreign exchange sources such as tourism and the Suez Canal. The crisis was temporarily stabilized by international assistance, including a substantial financial package led by the IMF.
  3. Economic Measures: In response, Egypt enacted several economic measures, including significant devaluations of its currency, a commitment to a more flexible exchange rate regime, and budgetary spending cuts, such as reducing subsidies and curtailing the military’s economic role.
  4. Recurring Crises: The brief highlights that Egypt’s economic difficulties are deeply rooted in its political economy, characterized by a state-/military-dominated governance structure and reliance on international financial support. The country has experienced at least eight major BOP crises since 1952, with similar patterns of economic mismanagement and temporary fixes.
  5. Future Prospects: The policy brief questions whether Egypt will implement deeper, long-term economic reforms or continue to rely on international bailouts to address future crises. The authors express skepticism about the country’s ability to break the cycle of crises without substantial institutional and policy changes.

The document is structured into sections that review the 2023-24 crisis, Egypt’s history of BOP crises, and the prospects for future reforms.

Read more  here.

You Might Also Like

From Concrete to Cruise Missiles: IDEF 2025 and the New Face of Turkey’s Defence Industry

Sharaa in the Caucasus: Why Tehran and Moscow Are Getting Nervous

The End of Eurasian Illusions: Azerbaijan’s Strategic Realignment

“He’s a Madman”: How Syria Marked the Final Rift Between Trump and Netanyahu

India’s Strategic Mirage: Fusion of Kautilyan Realpolitik with Machiavellian Opportunism

Share This Article
Facebook Twitter Email Print
Previous Article Yunus Takes Charge as Hasina Resigns: What’s Next for Bangladesh’s Political and Regional Dynamics?
Next Article China’s Push for Advanced Anti-Drone Systems Amid Global Conflicts
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

TwitterFollow
YoutubeSubscribe

Latest News

Are Arab Tribes Becoming Jolani’s Hamidiye? A Historical Warning from Suwayda
Commentary Geopolitics Middle East & Africa
U.S.-INDIA TRADE RAPPROCHEMENT EFFORT IN THE FACE OF NEW TARIFFS
Commentary Economy Geopolitics Indo-Pacific
From R2P to the Right of Self-Defence
Commentary Geopolitics
Disorder in Order: Mapping Contours of Global Geopolitical Flux
Commentary Geopolitics

Find Us on Socials

© GeoPolist. All Rights Reserved.
  • Submit an Op-Ed
  • Jobs
  • Post Jobs & Ads for Free
Welcome Back!

Sign in to your account

Lost your password?