Egypt - On The Way Of Consolidation Or Just The Calm Before The Storm?

Neszmélyi György Iván (2017) Egypt - On The Way Of Consolidation Or Just The Calm Before The Storm? In: MULTIDISCIPLINARY CHALLENGES AND THE APPROACHES TO MEETING THEM. BGE KVIK Közgazdasági Intézeti Tanszéki Osztály, Budapest, pp. 34-48.

Preview

Text
Neszmelyi_2017_3.pdf - Published Version
Download (8MB) | Preview

Official URL: https://uni-bge.hu/kvik/Szervezeti-egysegeink/okta...

Abstract

Six years have passed since the political metamorphosis, called Arab Spring that had swept away President Mubarak’s three-decade rule. The following years can be divided to several periods: military governance, then moderately radical Islamist rule, then military government again, and finally – since May 2014 – the election and official tenure as president of the head of the recent military government, General Sisi who is the incumbent head of state even now. President Sisi came with ambitious plans, the essence and goal of which was the economic restoration, and the inner political and social reconciliation of Egypt. No doubt about the fact that it has already shown certain results at macroeconomic level. But, the dissatisfaction of the society seems to be growing. Prospects for the Egyptian society of nearly 90 million people, especially for the poorest groups (which ranges to the half of the population) have not yet improved and many people from the young generation feels no future. People in Egypt expected better living conditions and possibilities from the Arab Spring, but instead they experience increasing economic restrictions, corruption cases of politicians closely tied to the army, and certain signs of a police state, which was well known during the Mubarak-era. After all it is a delicate question whether President Sisi will be able to implement the macro-economic restoration of Egypt or not, but if so, what price the society has to pay for it? This paper will introduce the latter factors, the present state of the Egyptian economy and society.