Why Egypt’s Economy Matters
December 12, 2011
Commentary by: Ben W. Heineman Jr., Belfer Center senior fellow
Topic: Egypt’s economy
“The economy was an important cause of Egyptian President Hosni Mubarak’s overthrow. The Mubarak regime failed to deal with poverty (20 percent of the population), unemployment (more than 10 percent), lack of opportunity for a bulging youth cohort (90 percent of the unemployed were between 15-24), inflation (about 12 percent in total consumer prices, with food higher), and widespread corruption.
Since Mubarak’s departure, in February, the Egyptian economy has significantly worsened, with the military leaders failing to address the burgeoning issues.”