Economic crisis at root of uprising

3 July 2013, 9:23 pm

Edit

Egypt’s downward economic spiral lies at the root of the popular uprising against President Morsi, according to an excellent analysis at the Washington Post.

According to Caroline Freund, former World Bank chief economist for the Middle-East and North Africa, before the 2011 revolution Egypt was in a difficult position, because its economy was growing, but not enough to match its needs.

After the revolution, she said, political instability caused tourism, which accounts for some 10 percent of Egypt’s economy, to plummet, and policies instituted later by Morsi and the Muslim Brotherhood exacerbated the situation.