Results for Category: Economy
For many Egyptians, the army’s increasing economic involvement is no cause for concern. The question is whether a larger military involvement in the economy is in line with the IMF reform programme, which aims ‘to address deep-seated structural impediments to growth and job creation, and create an enabling environment for private sector development’.
Al-Sisi is facing a ticking time bomb. The pressure to improve the lives of millions of unemployed youth, many of whom took part in the 2011 revolution, is his biggest incentive to limit corruption. Doing so must translate into more prosperity for working-class Egyptians, and soon. But it may already be too late.
According to the UNDP’s 2016 Solar PV Status Report for Lebanon, ‘solar PV electricity capacity in 2015 was 0.47 per cent of EDL’s [Electricité du Liban, state-owned company in charge of national electricity distribution] total electricity capacity and 0.11 per cent of EDL’s total annual electricity generation’. The report also stated that ‘from 2010 until the end of 2015, cumulative installed solar PV electricity capacity has grown by an average rate of 101 per cent per year’, and that ‘the number of new solar PV projects increased from 18 in 2011 to 94 in 2013 and to 259 in 2015’.
Egypt is working hard to clamp down on the black market, in an attempt to contain its dollar crisis. Since the revolution in 2011 and subsequent political unrest foreign currency reserves of the Central Bank of Egypt have dwindled, from $35bn to $15.5bn this August. In August 2016 Egypt’s budget deficit stands at 12% of GDP, its trade deficit at 7% and the official unemployment rate is 13%.