"Pharaonic Frailities"
by Anonymous
Published July 19th 2014
by Anonymous
Published July 19th 2014
Summary:
The Egyptian government seems to be taking a new approach to the economy. So far they've raised fuel prices and introduced a tax on stockmarket gains. This seems to have been successful because it has led several companies such as PepsiCo and Almarai to promise investments in the Egyptian joint venture. But this improvement has taken a toll on other aspects of the country, Egypt overall has built up a large amount of debt to firms that produce Egypt's oil and gas. Another aspect that is negative is that the army has extended it's role in the economy such as a project to redevelop the Suez canal.
Thoughts:
I think it's good that the government is trying to improve the economy, but I don't think they should be doing it this way because they're also hurting their country. I also think that they should not sell all of their fuel because since it's not a renewable resource, they cannot continue to rely on this revenue, but should start self improving and finding other sources of money. I also agree with the author when he says, " Egypt needs to spend more on education, health and research..." because to continue having a good economy, they should first self improve. I also feel like the president is trying his best to improve the economy, so we shouldn't criticize him so hard. Another thing is that I think the people should petition for changes instead of just letting them happen, they should advocate for better education and health policies.
How it ties into the country:
This article ties into the political life of Egypt because the government is influencing the economics of the nation. They've even allowed the military to have a role in this as well. This also ties into the political life of Egypt because the government is using government funds and creating a debt to get the oil and gas. This is turn could cause an economic depression for Egypt or hinder their economy in the future. This could also lead to other issues such as the government taking too much control in the economy.
The Egyptian government seems to be taking a new approach to the economy. So far they've raised fuel prices and introduced a tax on stockmarket gains. This seems to have been successful because it has led several companies such as PepsiCo and Almarai to promise investments in the Egyptian joint venture. But this improvement has taken a toll on other aspects of the country, Egypt overall has built up a large amount of debt to firms that produce Egypt's oil and gas. Another aspect that is negative is that the army has extended it's role in the economy such as a project to redevelop the Suez canal.
Thoughts:
I think it's good that the government is trying to improve the economy, but I don't think they should be doing it this way because they're also hurting their country. I also think that they should not sell all of their fuel because since it's not a renewable resource, they cannot continue to rely on this revenue, but should start self improving and finding other sources of money. I also agree with the author when he says, " Egypt needs to spend more on education, health and research..." because to continue having a good economy, they should first self improve. I also feel like the president is trying his best to improve the economy, so we shouldn't criticize him so hard. Another thing is that I think the people should petition for changes instead of just letting them happen, they should advocate for better education and health policies.
How it ties into the country:
This article ties into the political life of Egypt because the government is influencing the economics of the nation. They've even allowed the military to have a role in this as well. This also ties into the political life of Egypt because the government is using government funds and creating a debt to get the oil and gas. This is turn could cause an economic depression for Egypt or hinder their economy in the future. This could also lead to other issues such as the government taking too much control in the economy.