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Égypt-actus
revue de presse sur l'actualité culturelle, archéologique, politique et sociale de l'Égypte
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L'explosion démographique en Egypte aggrave les troubles sociaux, dans un pays déjà aux prises avec l'épuisement des ressources et trop peu d'emplois

L'explosion démographique en Egypte aggrave les troubles sociaux, dans un pays déjà aux prises avec l'épuisement des ressources et trop peu d'emplois | Égypt-actus | Scoop.it

Egypt is struggling to contain a population explosion that has surged in the past three years, exacerbating many of the social tensions that indirectly led to the 2011 uprising.

The number of births in Egypt in 2012 was 560,000 higher than in 2010, according to the most recent statistics. It is the largest two-year increase since records began. The rise keeps Egypt on course to overtake countries such as Russia and Japan by 2050, when forecasters predict it will have more than 137.7 million people.

"It's the highest spike ever in all Egyptian history," said Magued Osman, director of Egypt's leading statistics firm, Baseera, and former head of a government thinktank. "It's unheard of to have such a jump in a two-year period."

The rising population is seen as a social timebomb which, if untackled, will exhaust Egypt's depleted resources, worsen a dire jobs market, and contribute to yet more social frustration. With 60% of Egyptians under 30 already, a bulging population will further reduce the limited opportunities for young people.

"You can't maintain a good education system with this number of people," said Osman. "If the population increases, you need a parallel increase in the number of classes. Between 2006 and 2012 there was a 40% increase in the number of births. This means you need 91,000 new classes just to keep the same average class size, which is already very high – at least 40, and in some governorates it's at 60."

Every year, more than 800,000 young Egyptians join the job market – which already has an unemployment rate of 13.4%. With an unchecked birthrate and a falling deathrate, joblessness is expected to rise quickly, inevitably leading to further public anger.

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Selon un rapport de la Banque Mondiale, l'économie égyptienne fait partie des sept les plus vulnérables de la région Moyen-Orient/Afrique du Nord

Selon un rapport de la Banque Mondiale, l'économie égyptienne fait partie des sept les plus vulnérables de la région Moyen-Orient/Afrique du Nord | Égypt-actus | Scoop.it

Egypt was listed among seven of the most vulnerable economies in the Middle East and North Africa (MENA) region, along with Tunisia, Iran, Lebanon, Jordan, Yemen and Libya, in the World Bank’s quarterly economic report on the region.
The recently published report stated that the ongoing tensions in the region have affected economic growth, public coffers, unemployment, and inflation rates.
“Short-term policy actions such as increasing public sector wages and subsidies, aimed at reducing social tensions, exacerbate the situation,” the report’s authors wrote.
In Egypt’s section in the report, World Bank economists wrote that the government’s two economic stimulus packages are seeking a short-term expansion of economy through increasing public investments and public sector wages.

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Des associations égyptiennes à l'étranger sollicitées pour l'envoi de fonds supplémentaires en Egypte afin de relancer l'économie du pays.

Des associations égyptiennes à l'étranger sollicitées pour l'envoi de fonds supplémentaires en Egypte afin de relancer l'économie du pays. | Égypt-actus | Scoop.it
By sending funds to their families and investing in Egypt, Egyptian expats are helping revive the economy and offset the setbacks of recent years, experts say.

 

A group called "Egyptians in Kuwait" in late January launched a "Help your country even while you are away" initiative, which aims to raise the amount of bank transfers from Egyptians living in Kuwait into Egypt.

This initiative comes after reports from the Central Bank of Egypt revealed an $821 million decrease in remittances from Egyptian expatriates abroad from July-September of 2013, in comparison to the same period the previous year.

Egyptian remittances are among the most significant source of currency entering the country, along with revenues from the Suez Canal and the tourism industry, which is struggling due to security conditions causing many countries to issue advisories against traveling to Egypt.

Osama Galal was instrumental in the launch of the "Help your country even while you are away" initiative, which kicked off in Kuwait on January 27th, a payday for many workers.

"Remittances are the best way to celebrate the [January 25th] Revolution and help Egypt increase its foreign currency reserves, instead of staging demonstrations, because it is better for Egyptians to focus on building the state and benefiting from the democratic process," he said.

The initiative has in the past two years since the revolution contributed towards increasing Egyptians' remittances, he said.

These are expected to rise in the next few years as expatriates realise transferring money to their country is a patriotic duty and a real factor in strengthening the economy, Galal said.

 
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Le déficit budgétaire de l'Egypte est de 89,4 milliards de livres égyptiennes (12,84 milliards de dollars)

Le déficit budgétaire de l'Egypte est de 89,4 milliards de livres égyptiennes (12,84 milliards de dollars) | Égypt-actus | Scoop.it

Egypt's budget deficit was 89.4 billion Egyptian pounds ($12.84 billion) or 4.4 percent of economic output in the first half of this fiscal year, less than in same period a year before, the state news agency reported.

Citing a Finance Ministry report, MENA news agency said on Sunday the budget deficit had narrowed from 91.472 billion in the first half of the last fiscal year, which ended in June. That was the equivalent of 5.1 percent of gross domestic product.

Egypt aims to bring the deficit down to 10 percent of GDP at the end of this fiscal year from around 14 percent for full-year 2012-13.

Investment outflows and a drop in tourism during political turmoil since autocrat President Hosni Mubarak was toppled in an uprising in 2011 have damaged Egypt's economy and pushed its budget deficit up sharply.

 

Bolstered by a pledge of more than $12 billion in aid from Gulf countries, the government introduced a 30 billion Egyptian pound stimulus package in 2013 and said it would follow up with a second package, also of around 30 billion pounds.

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L'armée égyptienne et la protection de son empire économique tentaculaire.

L'armée égyptienne et la protection de son empire économique tentaculaire. | Égypt-actus | Scoop.it

With the Supreme Council of the Armed Forces giving the nod of approval for a possible presidential bid by Defense Minister Abdel Fattah al-Sisi, his candidacy is looking more likely by the day. Despite overwhelming popular support of Sisi, in this highly polarized political atmosphere, demobilizing the anti-military component of the Egyptian electorate sets the stage for the gradual normalization of the military’s direct role in national politics.  

The military establishment’s deep-rooted organizational channels and inherent structural cohesion are unrivaled among the country’s array of political groups and parties. Equally unmatched are its stakes in remaining a dominant force in Egypt’s power configuration. As theories of authoritarianism suggest, protecting the financial interests of the armed forces is one of the main endogenous factors behind increased military intervention in politics. A closely guarded national secret, the size of the army’s economic assets can be gleaned from the vastness of its commercial holdings. 

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L'économie de l'Egypte va croître de 2,0 % pour l'exercice se terminant en juin 2014, bien en dessous de l'objectif du gouvernement de 3,5 %.

L'économie de l'Egypte va croître de 2,0 % pour l'exercice se terminant en juin 2014, bien en dessous de l'objectif du gouvernement de 3,5 %. | Égypt-actus | Scoop.it

gypt's economy will only grow by 2.0 percent in the fiscal year ending June 2014, well below the government target of 3.5 percent, according to a Reuters poll of economists who lowered their forecasts once again.

Chances for an economic rebound were hurt by violence and political turmoil after Islamist President Mohamed Mursi was ousted by the army on July 3 after mass protests against him.

The consensus of 10 economists polled by Reuters for 2.0 percent growth in the fiscal year to the end of June 2014 is down sharply from 2.6 percent in a poll conducted in September.

The survey suggested growth would accelerate to 3.3 percent in the year to June 2015, also well behind the government's 4.5 percent target. Egypt's economy grew a meagre 2.1 percent in the year to end-June 2013.

"In Egypt, pressures on the external position eased in 2013," said Daniel Kaye at National Bank of Kuwait. "Along with a slight improvement in the political climate, this has set the stage for a modest acceleration in growth in FY14/15."

Supported by more than $12 billion in Gulf aid, Egypt introduced a 30 billion Egyptian pound ($4.3 billion) stimulus package in 2013 and plans to launch another one of about the same size later this month.

However, political turmoil also made it less likely the government would make early cuts in energy subsidies, which make up 20 percent of state spending, preventing it from directing resources to investment.

Before the 2011 uprising that toppled autocrat President Hosni Mubarak, the economy grew at about 6-7 percent annually for several years. Even that pace was barely enough to produce work for the number of Egyptian youths entering the job market.

Three years of political uncertainty and protests have hit Egypt's tourism industry, traditionally one of the country's biggest source of foreign currency.

Protests in late 2012 sparked a run on the currency that cost the central bank billions of dollars to bring under control. On Monday, the central bank announced an exceptional auction to sell $1.5 billion.

The latest poll forecast that the Egyptian pound would weaken to 6.99 to the dollar by end-June and to 7.29 by end-June 2015.

On Monday, the pound was trading at 6.96 to the dollar officially in a bureau de change in Cairo and at 7.37 on the black market, according to a trader.

The poll predicted that inflation would reach 9.5 percent, both in 2013/14 and the following fiscal year, slightly lower than forecasts of 9.6 and 9.8 percent in the last survey.

Urban inflation stood at 11.7 percent in the year to December 2013, up from 9.5 percent a year earlier. It reached 13 percent in November 2013.

($1 = 6.9619 Egyptian pounds)

(Polling by Shaloo Shrivastava; Writing by Shadia Nasralla; Editing by Alison Williams


By Shadia Nasralla

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Le gouvernement égyptien envisage d'augmenter les impôts pour compenser un récent accroissement des dépenses publiques.

Le gouvernement égyptien envisage d'augmenter les impôts pour compenser un récent accroissement des dépenses publiques. | Égypt-actus | Scoop.it

The recent increases in public expenditures have prompted the government to consider additional means of revenue generation, according to the finance ministry.

Minister of Finance Ahmed Galal said his ministry would have to consider additional taxation in order to meet the spending from increases in minimum income, social solidarity pensions and the rising spending on the health and education sectors.

“Without real and adequate [financial] resources, [the government] will not be able to achieve public demands,” Galal added, according to a Friday statement from the ministry.

- See more at: http://www.dailynewsegypt.com/2014/01/25/government-may-raise-taxes-to-meet-expenditures-finance-ministry/#sthash.RjpONtkN.dpuf

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After Arab Spring, Islamists Test Religion In Economics

With the rise of political Islam across North Africa in the wake of the Arab Spring uprisings of 2011, Islamic finance is being touted as the solution to decades of unemployment and economic inequality.

“We’ve tried socialism, we’ve tried capitalism, now we’re trying Islam,” cried supporters of Mohammed Morsi, when he was elected as Egypt’s first Islamist president last June. In Libya and Tunisia, new political movements have pledged to use Islamic principles to right their wayward economies.

But some critics – including advocates for the greater use of Islamic finance – believe that a sudden and rigid adherence to Islamic law, known as Sharia, could dramatically slow down economic recoveries across the region at a time when governments are already struggling to establish stability.

With rising unemployment, growing deficits and continued protests, anything less than a quick-turnaround for post-Arab Spring economies could be disastrous, economists warn.

 (

Egypt, where the Muslim Brotherhood is positioning itself as the most powerful political group in the post-Mubarak era, has become an important test for whether the marriage of Sharia with a 21st-century country can ameliorate financial and social hardship.

(...)

Egypt, where the Muslim Brotherhood is positioning itself as the most powerful political group in the post-Mubarak era, has become an important test for whether the marriage of Sharia with a 21st-century country can ameliorate financial and social hardship.

The Islamist government has focused on passing new laws to allow the issuance of sukuk, or Islamic bonds, and pledged to centralise zakat, a mandatory charitable giving from Muslims, to better target poverty.

While a shift to Islamic finance could bring an economic boost by giving countries access to a huge pool of Islamic investment funds from the oil-producing countries of the Persian Gulf, such as Saudi Arabia, Qatar and the United Arab Emirates, some say Sharia is out of sync with modern economics and cannot work in today’s world without extensive updating.

 Rebel EconomyMore : http://rebeleconomy.com/2013/04/07/special-report-after-arab-spring-islamists-test-religion-in-economics/ 
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Egypt economic situation "worrisome", needs fast action: minister

Egypt economic situation "worrisome", needs fast action: minister | Égypt-actus | Scoop.it

Egypt's economic situation is "worrisome" and it needs quick measures to restore economic activity, the planning minister told the state news agency MENA on Saturday as Egypt holds talks with the IMF on a $4.8 billion loan.

After two years of political turmoil, Egypt is struggling with an economic crisis and a high budget deficit. Foreign currency reserves are critically low, limiting its ability to import wheat and fuel.

An International Monetary Fund (IMF) delegation resumed long delayed talks with the government on Wednesday on a loan, which would throw Egypt a financial lifeline and potentially unlock a much larger amount in foreign aid and investment.

"The economic situation has become worrisome and quick measures are needed to restore (economic) activity," Planning Minister Ashraf al-Araby said, according to MENA.

Araby described the IMF talks as "positive" and said he hoped Egypt would reach a deal in principle with the global lender within two weeks, MENA said. The IMF has made no comment on the negotiations and set no deadline for their conclusion.

 

Reuters, via Yahoo.news

More : http://news.yahoo.com/egypt-economic-situation-worrisome-needs-fast-action-minister-161948419--business.html?utm_medium=referral&utm_source=t.co

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As Egypt’s foreign currency reserves fall, black market in dollars thrives

As Egypt’s foreign currency reserves fall, black market in dollars thrives | Égypt-actus | Scoop.it

In today’s moribund Egyptian economy, a man who calls himself Youssef has become a crucial component to keeping the wheels of commerce turning.

His business is furtive, his source of funding unknown and he’s so secretive about what he does that taking his photograph or publishing his full name is forbidden. He carries wads of cash.

Youssef is a black-market money dealer, selling dollars for Egyptian pounds at a markup. With the Egyptian government desperate to keep dollars in the country, banks are limited in how many they may let their clients have. People who need dollars are willing to pay Youssef more to get them.

He’s become one of the few sources of unlimited capital in Egypt’s flailing economy.

 Amina Ismail / The Miami Herald
Read more here: http://www.miamiherald.com/2013/03/28/3311572/as-egypts-foreign-currency-reserves.html
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Egypt's Islamist Groupies

There are few Egypt’s president can rely on more in these economic hard times than his band of Islamist brothers.

Key financial supporters from Islamist-led governments have come through with cash injections at times of extreme economic hardship, when Mohammed Morsi faced a spike in inflation and subsequent social unrest.

Egypt’s Islamist groupies, including Qatar, Turkey, Saudi Arabia and Libya have all together offered the country $7 billion, partly to boost the Central Bank’s coffers, party to help with energy imports. (...)

In fact, propping up the budget this way only serves to artificially cushion the Muslim Brotherhood and allows them to delay an economic reform plan.  

Because after all, what’s the point of importing Libyan oil to feed an addiction to energy subsidies? Why support the Central Bank’s reserve pot when the country has struggled to put forward an economic plan that will safeguard future reserves?

This is why other countries have been wary of pouring money into Egypt, and in so doing, unfairly legitimising the Morsi administration at a time of political divisiveness. 


Rebel Economy

More : http://rebeleconomy.com/2013/03/27/egypts-islamist-groupies/

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Egypt cancels bond auction after interest rate hike last week

Egypt cancels bond auction after interest rate hike last week | Égypt-actus | Scoop.it

Egypt's central bank canceled a three-year treasury bond auction on Monday because bids were too high following an increase in interest rates last week, market participants said.

The central bank had announced an auction for 500 million Egyptian pounds ($73.5 million) worth of the bonds. Bond auctions have been canceled occasionally in the past.

"The rates were high. The yields were 15 percent or more in the bids," said one dealer, speaking on condition of anonymity. A second market participant gave the same reason.(...)

 

In an effort to curb soaring inflation and slow the sliding of the pound the central bank raised interest rates on Thursday after a Monetary Policy Committee Meeting.

 

More on: http://www.cnbc.com/id/100588166

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Wheat adds to Egypt’s growing economic woes

gypt seems to be entering into a vicious circle where politics are impacting negatively on the economy while economic policies and performance add to the fuel of political instability. Street politics that have been driving the Egyptian scene for the past two years seem to be giving in for a more powerful engine — the economy — that is slated to shape the country’s future in the short-term at least.
Two developments have taken place recently to support this claim.
The three main rating agencies have downgraded Egypt’s economic performance describing the outlook as ‘negative.’ (...)

However, all eyes will be focused on the wheat production this year to see whether the hopes of a bumper crop will materialize, thus reducing the possibility of facing up to the tough choices of spending more on wheat imports or reducing the bread subsidy, which amounts to a political suicide given the current inflammable climate.
Memories are still fresh about the famous Cairo riots of 1977, when the late President Anwar Sadat curbed the bread subsidy, and smaller riots in 2003, and five years later, which were both driven by high food prices and low wages and salaries. That in the end led to the food subsidy program.


Alsir Sidahmed / Arab News

More : http://www.arabnews.com/news/445855

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Tunisie-Egypte : bientôt la réactivation de la chambre économique mixte

Tunisie-Egypte : bientôt la réactivation de la chambre économique mixte | Égypt-actus | Scoop.it

Les moyens de renforcer les relations économiques entre les chefs d’entreprise tunisiens et égyptiens ainsi que la réactivation de la chambre économique mixte tuniso-égyptienne ont été au centre de l’entretien qui a eu lieu  jeudi 13 février 2014 au siège de l’UTICA entre Mme Wided Bouchemaoui, présidente de l’UTICA et SE Ayman Musharafa, Ambassadeur d’Egypte à Tunis, en présence de M. Hamadi Kooli, membre du bureau exécutif de l’UTICA, chargé des relations avec le Monde arabe.

Il a été convenu  de renouveler la composition des membres des deux parties de la chambre  mixte et la mise en place d’un programme de travail de ladite chambre pour les prochains mois, ainsi que l’organisation d’un forum économique tuniso-égyptien avant la fin de 2014.

- See more at: http://www.leconomistemaghrebin.com/2014/02/15/tunisieegypte-reactivation-chambre-economique-mixte/#sthash.r5kXyQoC.dpuf

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Le bilan économique et social des révolutions arabes est désastreux

Le bilan économique et social des révolutions arabes est désastreux | Égypt-actus | Scoop.it

Trois ans après la «Révolution du Jasmin» en Tunisie et «la Révolution du 25 janvier» en Egypte, qui vont marquer le coup d’envoi d’une série de manifestations et de soulèvements populaires à travers le monde arabe, le bilan économique des pays en transition n’est pas formidable.

Si ces soulèvements ont réussi dans certains pays à atteindre leur objectif primordial, celui de mettre fin à des décennies de dictature, ils n’ont pas encore produit, en revanche, les autres effets escomptés. Les révoltes populaires portaient en elles l’espoir d’un renouveau politique, certes, mais aussi d’un nouvel élan socioéconomique qui permettrait de mieux redistribuer les richesses, jusque-là concentrées entre les mains d’une minorité au pouvoir, et d’assurer justice et emplois à une nouvelle génération montante.  

Mais les transitions politiques se sont avérées plus longues et ardues que prévu. Depuis octobre 2011, date à laquelle le parti Ennahda est arrivé au pouvoir, la Tunisie est soumise à des tiraillements politiques entre islamistes et forces laïques, dont les réformes et l’économie sont les premières victimes.

En Egypte, l’élaboration d’une nouvelle constitution et la préparation aux premières élections démocratiques dans l’histoire du pays ont été suivies d’une longue épreuve de force entre islamistes et membres de l’establishment militaire, ayant mené en juin dernier à la destitutionmanu militari du Président Morsi, issu de la confrérie des Frères musulmans.

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Printemps arabes : une catastrophe économique

Printemps arabes : une catastrophe économique | Égypt-actus | Scoop.it
En Égypte, Tunisie et Libye, les révolutions n'ont pas seulement engendré le chaos politique mais un désastre économique et social.

 

En Égypte, c'est pire. Le maréchal Abdel Fattah al-Sissi et l'armée contrôlent le pouvoir après avoir renversé Mohamed Morsi et écrasé les Frères musulmans. Mais l'économie s'en va à vau-l'eau. On estime que la révolution a déjà coûté 7,5 milliards de dollars au pays. Les salaires ont baissé de 11 %, les prix des denrées alimentaires de base ont, eux, augmenté de 10 %. Un quart des Égyptiens vit avec moins de deux dollars par jour. Les réserves de change ont fondu des deux tiers. Le tourisme, qui assure 12 % du PIB, est en berne. Sous Mohamed Morsi, c'est le Qatar, parrain des Frères musulmans, qui assurait les fins de mois de l'Égypte. L'Arabie saoudite, protectrice des militaires, a pris le relais et ouvert son porte-monnaie : cinq milliards de dollars d'aide. Un milliard en cash, deux milliards en produits pétroliers, deux milliards en dépôt bancaire. Seules les recettes du canal de Suez se maintiennent à environ 400 millions de dollars par an. Le péage est toujours une valeur sûre... Quant aux investissements étrangers, ils sont trois fois moins importants que pendant la décennie 2000-2010.

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L'Egypte va annoncer dans quelques jours les détails de son deuxième plan de relance depuis que le président islamiste Mohamed Morsi a été évincé en juillet, pour rassurer les investisseurs.

L'Egypte va annoncer dans quelques jours les détails de son deuxième plan de relance depuis que le président islamiste Mohamed Morsi a été évincé en juillet, pour rassurer les investisseurs. | Égypt-actus | Scoop.it

Egypt will announce details of its second stimulus package since Islamist President Mohamed Mursi was ousted in July within days, its finance minister said on Tuesday, aiming to boost tepid growth and reassure investors.

Egypt's economy has continued to suffer from investment outflows and a drop in tourism during political turmoil since autocrat President Hosni Mubarak was toppled in an uprising in 2011. The economy grew by just 1.04 percent in the three months through last September from a year earlier, according to latest central bank data.

In the latest sign of turmoil, a senior Egyptian Interior Ministry official was killed outside his home in Cairo on Tuesday, putting pressure on the military-backed government as it struggles to contain an Islamist insurgency.

The interim government is trying to give out assurances that the country is safe for investors.

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L'Egypte va annoncer les détails de son deuxième plan de relance depuis que le président islamiste Mohamed Morsi a été évincé en juillet dernier.

Egypt will announce details of its second stimulus package since Islamist President Mohamed Mursi was ousted in July within days, its finance minister said on Tuesday, aiming to boost tepid growth and reassure investors.

Egypt's economy has continued to suffer from investment outflows and a drop in tourism during political turmoil since autocrat President Hosni Mubarak was toppled in an uprising in 2011. The economy grew by just 1.04 percent in the three months through last September from a year earlier, according to latest central bank data.

In the latest sign of turmoil, a senior Egyptian Interior Ministry official was killed outside his home in Cairo on Tuesday, putting pressure on the military-backed government as it struggles to contain an Islamist insurgency.

The interim government is trying to give out assurances that the country is safe for investors.

 

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Redressement de l'économie égyptienne en 2014

Redressement de l'économie égyptienne en 2014 | Égypt-actus | Scoop.it

These three factors indicate that Egypt’s economic fortunes will improve in 2014. Growth in 2014 will thus be somewhat higher than the consensus 2-3 percent rate projected by the IMF, World Bank, the Institute of International Finance, the private credit rating agency Fitch, and Bloomberg. As the fiscal stimulus works its way through the economy, growth in 2014 could turn out to be close to 4 percent. This will represent a significant turnaround from the past three years, although it will still be below the growth rate in the last years of the Mubarak regime. 

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Le prix du blé, baromètre social en Egypte

Le prix du blé, baromètre social en Egypte | Égypt-actus | Scoop.it

En plein marasme économique, le premier importateur mondial de blé cherche à limiter ses achats sur les marchés internationaux.

L'Egypte, le premier importateur mondial de blé, se trouve dans une situation financière déplorable, qui rend aujourd'hui ses achats difficiles. Au point que certains experts craignent des émeutes de la faim.

  

L'Etat arabe le plus peuplé a de longue date subventionné le pain dans un pays où un quart des 83 millions d'habitants vit sous le seuil de pauvreté. Ce programme lui coûte chaque année 2,5 milliards de dollars, selon le département américain de l'Agriculture (Usda). Une dépense de plus en plus difficile à supporter car l'Egypte fait face à un déficit grandissant, sa monnaie est au plus bas et ses réserves de change ont chuté de plus de 60 % en deux ans. Le pays est actuellement en pourparlers avec le FMI pour obtenir un prêt de 4,8 milliards de dollars.

« Le pain est un symbole, un élément fondamental de la société égyptienne », insiste Philippe Chalmin, professeur à l'université Paris-Dauphine. Les Egyptiens ont l'une des plus grosses consommations de blé au monde : la FAO l'estime à environ 145 kilogrammes par habitant et par an, contre 81 kilogrammes pour un Américain. Au cours des dix dernières années, leur consommation a augmenté de près de 40 % et le pays doit aujourd'hui importer plus de la moitié du blé qu'il utilise.

 

Plus:http://www.lesechos.fr/entreprises-secteurs/finance-marches/actu/0202690753113-le-prix-du-ble-barometre-social-en-egypte-556151.php

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Risque imminent de collapsus économique : L’Egypte, un pays en transe

Risque imminent de collapsus économique : L’Egypte, un pays en transe | Égypt-actus | Scoop.it

L’incapacité de Mohamed Morsi à gérer de manière la plus consensuelle possible la transition met le pays dans une spirale de surpolitisation… alors qu’il n’a jamais été aussi proche du collapsus économique. 
Les disputes politiques paraissent aberrantes devant cette menace que des économistes jugent comme imminente. Pas de stabilité politique signifie clairement – et l’Egypte en dépend énormément – que les investisseurs étrangers ne viennent pas ou réservent leur action. Il n’y a aucun indice positif dans ce domaine. Non seulement les investisseurs boudent, mais les touristes, source importante de revenu et d’emploi, viennent de moins en moins dans un pays devenu à risque. Les réserves de change n’assurent plus que trois mois d’importation des produits essentiels, l’inflation en hausse et la pauvreté, déjà endémique, gagnent du terrain.


Alterinfo

Plus : http://www.alterinfo.net/Risque-imminent-de-collapsus-economique-L-Egypte-un-pays-en-transe_a88832.html

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La monnaie, nouvelle victime de l’instabilité en Égypte

La monnaie, nouvelle victime de l’instabilité en Égypte | Égypt-actus | Scoop.it

L‘économie est en crise, et la livre ne cesse de chuter face à d’autres devises. Des devises de plus en plus difficiles à trouver dans les bureaux de change en raison de la demande excessive. Les Egyptiens ont en effet perdu confiance dans leur propre monnaie.

Le faible pouvoir d’achat de la monnaie nationale risque de plonger le pays dans un effondrement économique complet. Le niveau de la livre égyptienne est proche de celui que le pays a connu dans les années quatre-vingt.

“Les traders font des importations de l‘étranger, explique le propriétaire d’un bureau de change, ce qui augmente la demande pour le dollar,et ce qui réduit le taux de la monnaie égyptienne.”

La dévaluation de la livre égyptienne s’accompagne d’une augmentation des prix, acheter des produits de base devient de plus en plus difficile pour les Egyptiens.

 

Euronews

Plus : http://fr.euronews.com/2013/03/29/la-monnaie-nouvelle-victime-de-l-instabilite-en-egypte/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+euronews%2Ffr%2Fnews+%28euronews+-+news+-+fr%29

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Egypt's economy going to the dogs

Egypt's economy going to the dogs | Égypt-actus | Scoop.it

Along with its politics, Egypt’s economy has lurched ever closer to ruin, yet successive governments have blithely ignored the looming danger.

The current one, dominated by the Muslim Brotherhood, is no exception. Nine months into office, President Muhammad Morsi has yet to devise an economic plan plausible enough to convince the IMF, whose proffered $4.8 billion standby agreement and stamp of approval could unlock as much as $15 billion in multilateral aid, mostly on generous terms, and slash borrowing costs overall. (...)

To be fair to Mr Morsi’s government, it has not been entirely oblivious of the impending crunch. It has raised a few customs duties and minor taxes, and mooted plans to ration some subsidised goods, perhaps as soon as June. Where it has really fallen short, however, is in meeting the request, politely framed in a statement from the IMF after one delegation’s visit to Cairo, for Mr Morsi to build “broad support” for wider-reaching economic reform.

Not only has his government failed to propose a coherent plan for reform or to prepare the public for it, Mr Morsi and the Brotherhood have tried to muscle aside critics, using much the same methods as did Hosni Mubarak, the dictator overthrown in 2011 after 30 years in power. But Egyptians are no longer so easily cowed, so the result has been political paralysis accompanied by rising violence. Mr Morsi has shown growing frustration with the limits to his power, leading opponents to suspect he may try even harsher tactics to thwart them. Many Egyptians now fear that a judgment day is indeed nearing.

 

The Economist

More : http://www.economist.com/news/middle-east-and-africa/21574533-unless-president-muhammad-morsi-broadens-his-government-egypts-economy-looks

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Qatar calls on Arab countries to support Egypt

Qatar calls on Arab countries to support Egypt | Égypt-actus | Scoop.it

Qatar called for more economic aid to Egypt Monday during the Arab Summit’s opening session in Doha.

During the opening of the 24th Arab Summit, Qatari Emir Hamad bin Khalifa al-Thani said, “We should economically support the Arab Spring countries, especially Egypt, for the sacrifices it made for the Arab World.”

“Egypt, with its standing and population, deserves support,” he added, describing such support as a duty.

 

More on:http://www.egyptindependent.com/news/qatar-calls-arab-countries-support-egypt

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Seventeen PPP projects to be financed using sukuk: Panel

Seventeen PPP projects to be financed using sukuk: Panel | Égypt-actus | Scoop.it

Seventeen upcoming Public Private Partnership (PPP) projects will be financed using sukuk, confirmed Ahmed Al-Naggar, financial advisor to the Ministry of Finance, during the 2nd Annual PPP Investment Summit in Cairo on Sunday.

“Egypt has acquired 1.2% of the total sukuk market in the world,” he said. “This is a very low percentage compared with Malaysia, which has 24%, and Bahrain, which has 2.4%.”

“Issuing the sukuk law is a positive step and a quantum leap in establishing Islamic finance in Egypt,” said Waleed Hegazi, partner at Hegazy & Associates, and one of the panelists discussing the role of Islamic finance in PPP projects. “Sukuk is one financing tool that achieves high rates of return on investments.”

 

Al-Naggar also added that the Ministry is considering using sukuk to finance a number of PPP projects including silos projects, developing roads, and the Ain Shams -10th of Ramadan city train line in order to link the industrial sites along the way.

 

More on: http://www.dailynewsegypt.com/2013/03/24/seventeen-ppp-projects-to-be-financed-using-sukuk-panel/

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