Egypt on the Brink of Economic Collapse, GCC [Minus Qatar] to the Rescue

suezPolitically, Egypt is in a bad place. Egyptians seem to be given bad choices: either pick brutal dictators, violent conservative-Islamists, or ruthless military. Sometimes, you can combine them so as dictators and military are just the same. The middle path, as in almost every Arab country, is very difficult to find, and that is not likely to get better considering the chaotic state of the economy.

Removed by the citizen rebels of the grassroots Tamarod movement, and following a decisive decision by the military to speed up his departure, Mohamed Morsi can partly link his demise to the poor economic performance of his one year in power, with the same types of challenges facings his replacement Adly Mansour. While Morsi remained focused on pointless social and religious agendas, economic data published by the government and third-party institutions look awful. The nation’s GDP has stalled, growing only 2% from 2011 to 2012, and likely to grow even slower in 2013. Although that figure might mean stability in mature economies, it simply means a disaster for a nation like Egypt where the population is in need of everything. Continue here.

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