The IMF expects the unemployment rate to be affected by the negative economic impact of the COVID-19 pandemic, the rate being currently estimated to increase to 9.7% in 2021 and 2022. It is at the top of the files that occupied Egyptians during the past year, and it is natural for this concern to continue to develop during 2020. Source: 2019 Index of Economic Freedom, Heritage Foundation. He expected the trade balance of fuel to continue to achieve a surplus due to an increase in exports of oil and its products, which could lead to a decrease in the trade balance deficit as a whole. Any Comment About This Content? The State has a presidential system of Government. But government support for the pound will, in turn, require continued borrowing, which means increased internal and external debt. He explained that the central bank supported the appreciation of the pound against the dollar during the last months of the past year, adding that if this government-made rise continues, prices are likely to decrease, especially associated with imported goods. The Demographic Situation. Each rating of 1 through 7, with 1 representing the highest and 7 the lowest level of freedom, corresponds to a range of total scores. Alibaba: Economic portal on the Middle East. The elections were initially expected to be held in April or May 2020. And because the threads of those issues did not touch its end after the finish line, it seems that the year 2020 will be full of repercussions and consequences that will affect the political and economic scenes. 2019 World Press Freedom Index, Reporters Without Borders, Political freedom in the world (interactive map), World Bank's Map of SME-Support Measures in Response to COVID-19, Ministry of International Trade and Industry. IMF – World Economic Outlook Database, October 2020. By continuing your navigation on our website. It includes every kind of direct attacks against journalists and digital citizens (murders, imprisonment, assault, threats, etc.) | COVID-19 Country Response. Deserts occupy most of the country. See the country risk analysis provided by Coface. PMI data for September indicated the first overall increase in non-oil private sector activity in 14 months, driven by an uptick in consumer demand. For the information on the local business support scheme established by the Egyptian government, consult the dedicated page on KPMG’s website.For a general overview of international SME support policy responses to the COVID-19 outbreak refer to the OECD's SME Covid-19 Policy Responses document.You can also consult the World Bank's Map of SME-Support Measures in Response to COVID-19. He expected Qatar to not retract its political position with Egypt, but with regard to the economic file between the two countries, it seems that it is beyond the regional problems. The world rankings, published annually, measures violations of press freedom worldwide. Nonetheless, it is estimated that three-quarters of all employees are paid as unofficial workers, and 32.5% of the population lives below the poverty line (state statistics agency CAPMAS). In addition, before the pandemic, the country was already in a strong position as it had implemented an economic reform program comprising fiscal consolidation measures, the introduction of a floating exchange rate and large cuts in subsidies. Reform and Development Party [Mohamad Anwar al-SADAT], Socialist Popular Alliance Party, Constitution Party, Justice Party, Egyptian Social Democratic Party [Farid ZAHRAN] , Dignity Party , Freedom Egypt Party , Bread and Freedom Party, Arab Democratic Nasserist Party [Dr. Mohamed ABDUL ELLA], Arab Party for Justice and Equality, Democratic Generation Party, Democratic Peace Party [Ahmed FADALY], Egyptian Arab Socialist Party, Egyptian National Movement Party [Gen. Raouf EL SAYED] , My Homeland Egypt Party [Gen. Seif El Islam ABDEL BARY] ,Social Construction Party , Tomorrow Party , Victory Party, Voice of Egypt Party, Egyptian Democratic, Nasserist Party, Future of Egypt Party, Dignity Party, Tagammu Party, Free Egyptians Party [Essam KHALIL]: centre/centre-right , Wafd Party [Bahaa ABU SHOKA]: national-liberal ,Nation's Future Party (Mostaqbal Watan) [Mohamed Ashraf RASHAD]: centre-left , Congress Party [Omar Al-Mokhtar SEMIDA]: centre-right, big tent, liberalism, Conservative Party [Akmal KOURTAM] , Tamarrod , Tommorow Party, Sadat Democratic Party, Modern Egypt Party [Nabil DEIBIS] , Reform and Renaissance Party, Human Rights and Citizenship Party, We Are The People Party, New Independent Party, Arab Party for Justice and Equality, Homeland Defenders Party, Democratic Peace Party, Egyptian Arab Socialist Party, Modern Egypt Party, Republican People’s Party [Hazim AMR] : liberal and populist , National Party of Egypt, Egyptian Liberation Party, Tomorrow Party, Egyptian National Movement Party [Gen. Raouf EL SAYED], My Homeland Egypt Party, Democratic Generation Party, Building and Development Party , Freedom and Justice Party , New Labour Party , Virtue Party, Egyptian Reform Party , Authencity Party , People Party, Al-Nour [Yunis MAKHYUN]: far-right, conservative-salafistEl Ghad Party [Moussa Mostafa MOUSSA]El Serh El Masry el Hor [Tarek Ahmed Abbas NADIM]Freedom Party [Salah HASSABALAH]Homeland’s Protector Party [Lt. Gen. (retired) Galal AL-HARIDI]: populistNational Progressive Unionist (Tagammu) Party [Sayed Abdel AAL]Revolutionary Guards Party [Magdy EL-SHARIF]. In particular, demographic changes and economic trends continue to evolve in ways that have the potential to increase unrest. It established an upper chamber called the Senate, composed of 300 seats. published by the World Health Organisation. Hafiz suggested that the government would deal if Ethiopia agreed to the 35 billion cubic meters and extend the storage period of the dam to seven years as it had achieved an important victory, and would try to persuade the citizens to stop farming for most of the local products and expand the water desalination projects. Currently, Egypt’s annual share of the Nile water is fifty billion cubic meters, which means an estimated deficit of 19 billion cubic meters. With automotive manufacturing, steel manufacturing, cotton cultivation, textile production and the construction industry, the secondary sector accounts for 35.6% of the GDP and employs 28% of the workforce. On April 22, 2019, Egyptians cast their votes on the latest amendments, that include extending the presidential term of office from four to six years, and increasing the current president's term, assuring that Sisi will remain in office until 2030. He added that the government headquarters is expected to move to the new administrative capital during the new year, which may be an important factor in advancing development. Its overall score has increased by 1.5 points, primarily because of a higher property rights score. The Renaissance Dam .. Agreement to continue the tripartite negotiations under the auspices of the African Union, The balance of power, militarily and economically, is ahead of Egypt, and Ethiopia is challenging. The Egyptian economy was supported by the allocation of EGP 100 billion, representing 2% of the GDP (Egypt Oil & Gas). And Shaheen spoke of the absence of any indication of the improvement of the deficit of the state budget, which means the continuing deterioration of the economic situation. The survey measures freedom according to two broad categories: political rights and civil liberties. The country also became the 13th gas producer in the world (Le360Afrique), its production increasing by 12.4% during financial year 2019-2020 (Africa Oil & Power). Egypt Economic Outlook. Despite the COVID-19 pandemic, Egypt announced record oil production levels, exceeding 650,000 barrels per day. The main crops are cereals, cotton, sugar cane and beetroots. Economic freedom in the world (interactive map) Does the IMF carry deceptive messages to the Egyptians? On the level of domestic political issues and related to international parties, they are likely to escalate rapidly and sometimes to ignite. To find out about the latest public health situation in the Egypt and the current sanitary measures in vigour, please consult the dedicated page on the website of the, For information on the travel restrictions undertaken by the Egyptian government, please refer to the website of the, For the up-to-date information on all the measures applicable to movement of goods during the period of sanitary emergency due to the COVID-19 outbreak (including eventual restrictions on imports and exports, if applicable), please consult the website of the. Therefore, Shaheen expected that the government will continue to close the door to many imported goods, in order to avoid entering into a new crisis due to the high value of the dollar against the pound. Source: The Economist - Business Environment Rankings 2014-2018. The business rankings model measures the quality or attractiveness of the business environment in the 82 countries covered by The Economist Intelligence Unit’s Country Forecast reports. Inflation rate should decrease to 5.9% in 2020 and increase to 8.2% in 2021, according to the latest World Economic Outlook of the IMF (April 2020). It appears as the most resilient sector in the context of the COVID-19 pandemic. He expected that the new formation of the government would achieve the missing cooperation between its members, as this would be reflected in the increase in growth and development rates. Political Outline [3] In June 2020, Egypt adopted an economic reform program supported by a 12-month Stand-By Arrangement (SBA) with the IMF. It reflects the degree of freedom enjoyed by journalists, the media and digital citizens of each country and the means used by states to respect and uphold this freedom. % between January and June 2020 represents 50.5 % of the population ( %. 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