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Homeausterity measures

austerity measures

Egypt Latest News

Egypt’s Domestic Debt Surges 4.108 Trillion Pounds in 2018

May 22, 2019 Ahmed Rashed

The domestic public debt of Egypt reached EGP 4.1049tn at the end of December 2018, against EGP 3.887tn at the end of September 2018, up by EGP 220bn (5.66%), according to the Central Bank of [ More … ]

Egypt Latest News

Egypt’s Annual Inflation Reaches 12.2%

February 11, 2019 Ahmed Rashed

Egypt’s annual urban consumer price inflation increased to 12.7 percent in January from 12.0 percent in December, as recorded by the CAPMAS statistics agency, though the data was unlikely to quell speculation the central bank [ More … ]

Egypt Latest News

Bloomberg: Satisfying the IMF Won’t Solve Egypt’s Economic Problems

February 1, 2019 Ahmed Rashed

When the Egyptian government signed an agreement with the International Monetary Fund in November 2016, it committed to the all-too-familiar austerity measures of subsidy cuts and tax hikes, in addition to the flotation of the [ More … ]

Egypt Latest News

Al-Sisi’s Policies Won’t Break the Debt Cycle in Egypt

November 21, 2018 Ahmed Rashed

A new package of austerity measures was announced by the Egyptian government on November 7, in response to ballooning public debt. The measures included liberalizing the price of bread flour as of January 1, 2019, [ More … ]

Egypt Latest News

Egypt’s Hiring Freeze Sparks Concern Among Young Workers

October 8, 2018 Ahmed Rashed

An announcement by the Egyptian government that it will not hire any staff for the next five years has sparked anger among civil servants.  Government workers said the tactic was a heavy-handed, cost-cutting measure that [ More … ]

Egypt Latest News

Egyptian Politician Calls for Referendum on Al-Sisi’s Government

August 8, 2018 Ahmed Rashed

An Egyptian politician has called for a referendum on Abdel-Fattah al-Sisi’s government. Maasoum Marzouk, a former diplomat, announced a roadmap this week including the suspension of the constitution and the dissolution of parliament if Egyptians [ More … ]

Egypt Latest News

Egypt’s Foreign Debt Rises to $88.2 Billion in the Third Quarter of 2017-2018

August 7, 2018 Ahmed Rashed

Egypt’s foreign debt rose to $88.2 billion in the third quarter of the 2017-2018 fiscal year, up from $73.9 billion in the same period the previous year, central bank data showed on Monday. Egypt’s fiscal [ More … ]

Egypt Latest News

Washington Post: Egypt’s Al-Sisi Is Facing Unusual Dissent over Hiking Prices

July 21, 2018 Ahmed Rashed

Egypt’s al-Sisi is confronting one of the toughest challenges he has faced since seizing power five years ago, as rising prices linked to economic austerity measures take a toll on his core middle-class supporters, according [ More … ]

Egypt Latest News

Despite Rages from Austerity Measures, Al-Sisi Still Sees Egypt on the Right Track

July 3, 2018 Ahmed Rashed

After years of instability that had nearly brought the North African country to its knees, Abdel Fattah al-Sisi claims that the country is on its right track through his rule years. Two days ago, al-Sisi said [ More … ]

Egypt Latest News

Egypt’s Angry Civil Servants Say that Pay Raise Not Enough for New Price Hikes

June 23, 2018 Ahmed Rashed

Egyptian civil servants have warned the government that increases in their salaries will not help them avoid the devastating impact of tough new austerity measures. Earlier this month the national Parliament approved a draft law [ More … ]

Egypt Latest News

Egyptians Enclosed Hashtag “Sisi Leave” Urging Him to Resign Amid Recent Price Hikes

June 22, 2018 Ahmed Rashed

Hashtag “Sisi Leave” in (Arabic) has been trending in the past few hours in Egypt with people urging Abdel Fattah al-Sisi to resign amid recent austerity measures carried out as part of economic reforms ordered [ More … ]

Egypt Latest News

New Hikes in Prices: Egypt Raises Gasoline Prices by Up to 50 Percent

June 16, 2018 Ahmed Rashed

It seems that al-Sisi’s words during his last speech that Egyptians must all suffer to bring a stronger economy will mark the coming phase. Days after raising electricity bills, Egypt raised gasoline prices by up to 50 [ More … ]

Egypt Latest News

Egypt Police Arrest Protesters Against Hikes in Metro Fares

May 13, 2018 Ahmed Rashed

Egyptian police arrested 21 people for taking part in protests against the government’s surprise decision to hike fares on Cairo’s subway as part of austerity measures meant to restore the economy, officials said on Saturday. [ More … ]

Egypt Latest News

Only in Egypt: One Day off From Country Workers to Donate Monthly From Payroll !

March 20, 2018 Ahmed Rashed

Egypt’s Kafr el-Sheikh Governor asked workers to donate one day off from their monthly payroll for “Tahya Masr” government Fund . On phone interview with CBC (pro-government)channel, Major General Nasr Nasr, governor of Kafr El-Sheikh, said [ More … ]

Egypt Latest News

Social Media activists mock Al-Sisi for a post on his official Facebook page

April 28, 2017 Ahmed Rashed

A post on Al-Sisi’s official Facebook page has provoked mockery of social media activists Al-Sisi’s Facebook page posted, “The public debt hiked from 700 billion to 3.4 trillion Egyptian pounds,”with hashtags (in Arabic)#Ask_thePresident and #BeCreative. The [ More … ]

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