Egypt's economy has shown signs of stabilization in recent months, thanks to a series of international investments and loans worth billions of dollars. The country's credit rating was recently upgraded, and its GDP growth rate is increasing. However, despite these positive indicators, the economic challenges facing Egypt remain significant.
Critics argue that the country's parliamentary elections have been marred by restrictions on political participation, with loyalists to President Abdel Fattah el-Sisi dominating the race. The elections have also had a minimal impact on the public, continuing a pattern of low voter turnout since el-Sisi took power nearly a decade ago.
The government has received significant capital injections from international institutions and investments from the Gulf region, which have helped stabilize the economy. However, experts argue that these loans are being used primarily to repay debts rather than generating income or creating jobs.
For many Egyptians, however, the benefits of economic growth have not yet trickled down to their households. Poverty remains a significant challenge, particularly in rural areas where high rates of unemployment and low incomes are prevalent.
The new Grand Egyptian Museum has been hailed as a major tourist attraction, but its opening has done little to alleviate poverty in the countryside. In fact, many farmers like Mahmoud, who was interviewed by Al Jazeera, believe that the government's economic policies have only made life more expensive for them.
"The museum is good for Egypt, but mainly for tourism, for hotels, not for all Egyptians," he said. "The farmers and others in the countryside are just trying to get by with the expensive prices. They wouldn't abandon their whole lives and go work in hotels in Cairo."
Subsidies that were once available have been removed as part of the IMF's economic reforms, further exacerbating poverty. Experts say that these policies prioritize the interests of wealthy businesses over those of ordinary citizens.
"Egypt is still dependent on offering high interest rates to generate hard currency," said Osama Diab, an Egyptian political economist at KU Leuven University. "This means that the economy is still not addressing its underlying structural issues."
The government's ability to create jobs and improve living standards for all Egyptians remains a distant goal. As Mahmoud noted, economic growth has yet to trickle down to households like his own.
"We are looking for subsidies, but nothing is subsidised any more," he said. "In Cairo, the museum will generate income and new business activity, but that income will never reach us here."
Critics argue that the country's parliamentary elections have been marred by restrictions on political participation, with loyalists to President Abdel Fattah el-Sisi dominating the race. The elections have also had a minimal impact on the public, continuing a pattern of low voter turnout since el-Sisi took power nearly a decade ago.
The government has received significant capital injections from international institutions and investments from the Gulf region, which have helped stabilize the economy. However, experts argue that these loans are being used primarily to repay debts rather than generating income or creating jobs.
For many Egyptians, however, the benefits of economic growth have not yet trickled down to their households. Poverty remains a significant challenge, particularly in rural areas where high rates of unemployment and low incomes are prevalent.
The new Grand Egyptian Museum has been hailed as a major tourist attraction, but its opening has done little to alleviate poverty in the countryside. In fact, many farmers like Mahmoud, who was interviewed by Al Jazeera, believe that the government's economic policies have only made life more expensive for them.
"The museum is good for Egypt, but mainly for tourism, for hotels, not for all Egyptians," he said. "The farmers and others in the countryside are just trying to get by with the expensive prices. They wouldn't abandon their whole lives and go work in hotels in Cairo."
Subsidies that were once available have been removed as part of the IMF's economic reforms, further exacerbating poverty. Experts say that these policies prioritize the interests of wealthy businesses over those of ordinary citizens.
"Egypt is still dependent on offering high interest rates to generate hard currency," said Osama Diab, an Egyptian political economist at KU Leuven University. "This means that the economy is still not addressing its underlying structural issues."
The government's ability to create jobs and improve living standards for all Egyptians remains a distant goal. As Mahmoud noted, economic growth has yet to trickle down to households like his own.
"We are looking for subsidies, but nothing is subsidised any more," he said. "In Cairo, the museum will generate income and new business activity, but that income will never reach us here."
. I get it, they're getting some investments & loans, but what about the everyday people? 
Like Mahmoud, farmers are struggling with high prices & unemployment in rural areas 
. It's like the economy is just putting Band-Aids on bigger problems 
. And don't even get me started on the subsidies... removing them was a huge step back for many families 
. I think we need to see more concrete plans from the government to actually help people, not just create jobs in touristy areas like that new museum 
.
it's crazy how Egypt's economy has stabilized after all those billions of dollars in investments... seems like most of it just went towards paying off debts 
and the government's policies seem to only benefit wealthy business owners 
subsidies were supposed to help low-income households but now they're gone 
. How can you expect people to survive when their basic needs aren't being met? 
Mahmoud's point about the museum only benefiting tourism and hotels is spot on 
. We need economic growth that benefits everyone, not just a select few 
.