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On the issue of reconciliation with Qatar, Ahmed Rami al-Hofy, a leader in the Freedom and Justice Party that is affiliated with the Muslim Brotherhood, predicted a slow and gradual reconciliation between Doha and Riyadh only without the rest of the countries including Egypt. Macroeconomic performance and outlook Economic growth in Egypt, estimated at 5.6% for 2019, is forecast to strengthen to 5.8% in 2020 and 6% in 2021, supported by broad-based economic reform programs since 2016. It is at the top of the files that occupied Egyptians during the past year, and it is natural for this concern to continue to develop during 2020. [3] published by the World Health Organisation. Republic based on the Constitution adopted by referendum in January 2014 (amended in 2019). Parliamentary: 2020 Current Political Context Egypt’s presidential elections of March 2018 posed little challenge to incumbent Abdel-Fattah el-Sissi being re-elected with 97% of votes, after all serious opposition contenders halted their campaign two months before the election. The sector has historically been important for Egypt, and it accounts for about 20% of total exports and foreign exchange earnings. To compile this index, Reporters Without Borders (RWB) prepared a questionnaire incorporating the main criteria (44 in total) to assess the situation of press freedom in a given country. Political freedom in the world (interactive map) Therefore, any incident related to the contents or services must be resolved between the user and Export Entreprises S.A.; with no involvement or responsibility from Banco Santander, S.A. or any of its subsidiaries. Appropriate monetary policy allowed the inflation rate to further decrease in 2020, reaching 5.7%. 90 per cent of people unemployed are under the age of 30, and unemployment has reached an unprecedented new high of 31.3 per cent of the active youth population. The last elections for the House of Representatives took place in two stages in 2015. Your country was not recognised. For information on the travel restrictions undertaken by the Egyptian government, please refer to the website of the US embassy in Egypt and to EgyptOnlineVisa.For the international outlook you can consult the latest travel updates available on the IATA website. The amendments consolidate authoritarian rule, undermine the judiciary’s dwindling independence, and expand the military’s power to intervene in political life. Egypt's non-oil industry remains rather limited. Find more information about your business sector on our service Market Reports. In Egypt, the Coronavirus Poses a Political Threat The pandemic has exposed the shortfalls of a government that has neglected the health sector for too long. Published Feb. 11, 2020 Updated Feb. 25, 2020 CAIRO — Somewhere in Egypt, around lunchtime Tuesday, the country reached a major milestone: its 100 millionth citizen was born. The survey measures freedom according to two broad categories: political rights and civil liberties. Likewise, Ethiopia’s acquisition of $ 9 billion from the World Bank and the International Monetary Fund - alongside the UAE and Saudi Arabia - will be a major reason for Addis Ababa's announcement that construction of the second upper dam over the Renaissance Dam will begin. In addition, before the pandemic, the country was already in a strong position as it had implemented an economic reform program comprising fiscal consolidation measures, the introduction of a floating exchange rate and large cuts in subsidies. 2019 World Press Freedom Index, Reporters Without Borders, Political freedom in the world (interactive map), World Bank's Map of SME-Support Measures in Response to COVID-19, Ministry of International Trade and Industry. The resulting polarisation has encouraged mounting political violence from the Islamic State (ISIS) and other violent groups, particularly in the Sinai Peninsula where a low-level insurgency has raged. The Renaissance Dam .. Agreement to continue the tripartite negotiations under the auspices of the African Union, The balance of power, militarily and economically, is ahead of Egypt, and Ethiopia is challenging. PMI data for September indicated the first overall increase in non-oil private sector activity in 14 months, driven by an uptick in consumer demand. Egypt's teeming cities - and almost all agricultural activity - are concentrated along the banks of the Nile, and on the river's delta. Economic activity appears to have improved somewhat in recent months, following a 1.7% year-on-year contraction in Q2 (Q1: +5.0% yoy). Egypt reopened its airspace to Qatari flights on Tuesday and will allow the resumption of air traffic between the two countries as part of a thaw in relations with the Gulf state, officials said. Its overall score has increased by 1.5 points, primarily because of a higher property rights score. This program was designed to support the country in the context of the COVID-19 crisis. For the information on the economic recovery scheme put in place by the local government to address the impact of the COVID-19 pandemic on the Egyptian economy, please visit the, For the information on the local business support scheme established by the Egyptian government, consult the, For the up-to-date information on possible support plans for exporters in Egypt, if applicable, please consult the website of the, OECD Economic Outlook Interim Report Coronavirus (Covid-19): Living with uncertainty, IMF's policy tracking platform Policy Responses to COVID-19, Economic freedom in the world (interactive map), 2019 Index of Economic Freedom, Heritage Foundation, The Economist - Business Environment Rankings 2014-2018, Central Agency for Public Mobilization and Statistics, Website containing official information from the government. Therefore, Shaheen expected that the government will continue to close the door to many imported goods, in order to avoid entering into a new crisis due to the high value of the dollar against the pound. Political news headlines, in-depth politics coverage and political opinion, plus breaking news on Egypt, Africa, MENA region, and world affairs. Please check the spelling. The current political system was established following the Egyptian Revolution of 2011 and the resignation of President Hosni Mubarak.In the current system, the President is elected for a six-year term, where they are able to appoint up to 5 percent of the parliament. The Central Bank of Egypt slashed policy rates by a cumulative 350 basis-points since March 2020 to ease liquidity. President Abdel Fattah el-Sisi ordered parliament to freeze its activities on 1 October 2019 and placed the National Security Agency (NSA) in charge of creating lists of candidates as the General Intelligence Directorate (GID) had not satisfactorily selected candidates in the previous election. Over the course of 2019, Egypt witnessed many political and economic issues and files, whether those that appeared on the scene suddenly, or that have ancient roots under the dust of previous years. Source: Freedom in the World 2019, Freedom House. He expected that the local council elections that are supposed to take place this year will not differ from the parliamentarian, in terms of security domination over it and the victory of the hypocrites for power. For the latest economic outlook due to the Covid-19 pandemic, please consult the OECD Economic Outlook Interim Report Coronavirus (Covid-19): Living with uncertainty and the IMF's policy tracking platform Policy Responses to COVID-19 for the key economic responses from governments. For an overview of the tax measures that have been adopted, refer to the PWC website.For the general overview of the key economic policy responses to the COVID-19 outbreak (fiscal, monetary and macroeconomic) taken by the Egyptian government to limit the socio-economic impact of the COVID-19 pandemic, please consult the section dedicated to Egypt in the IMF’s Policy Tracker platform. Any Comment About This Content? Egypt will lead growth in the MENA region in 2020. • The unemployment rate declined to a decade low of 7.5% in June 2019, compared to 11.1% in 2018, before slightly rising to 7.9% at 2019’s end. The main crops are cereals, cotton, sugar cane and beetroots. Posted at 18:48 10 Dec 2020 18:48 10 Dec 2020 Italy accuses Egypt agents over student's murder Italian prosecutors accuse four Egyptian officers over the 2016 murder of a Cambridge student. Travel receipts fell by 54.9% between January and June 2020 (Central Bank of Egypt). It reflects the degree of freedom enjoyed by journalists, the media and digital citizens of each country and the means used by states to respect and uphold this freedom. Inflation rate should decrease to 5.9% in 2020 and increase to 8.2% in 2021, according to the latest World Economic Outlook of the IMF (April 2020). DRC: beyond consultations, the standoff between Félix Tshisekedi and Joseph Kabila, Egypt refers the issue of the Ethiopian Renaissance Dam to the UN Security Council, Libya file and water security fears ... economic risks that might reduce money flows to Egypt, Pink swings crossing Mexico and the United States rewarded, U.S. elections: divisions will impact U.S. economy. It should remain under control despite an expected increase to 6.2% in 2021 and 7.9% in 2022. The Indicator of Political Freedom provides an annual evaluation of the state of freedom in a country as experienced by individuals. The warm climate and the abundant Nile water allow for several annual harvests. Leading political figures, including Zyad el-Elaimy, Hisham Fouad and Hossam Moanis, were arrested to stop them founding a coalition to contest the 2020 parliamentary elections.In September and October, police arrested several members from five political … The authorities continued to severely restrict human rights organizations’ and political parties’ freedom of association. See the country risk analysis provided by Coface. The progovernment coalition For the Love of Egypt, consisting of some 10 parties, won all 120 bloc-vote seats. Currently, Egypt’s annual share of the Nile water is fifty billion cubic meters, which means an estimated deficit of 19 billion cubic meters. The economic files that the government faces and the citizens suffer from are many, varied and have repercussions during the new year, and analysts see them in an optimistic framework, while others refuted the risks that await them. Zawya: website containing economic information on the Middle East. Due to the COVID-19 pandemic, the services surplus declined by 31.2% to USD 9.0 billion (from USD 13.0 billion), mainly as a result of the decrease in tourism revenues. The Demographic Situation. The politics of Egypt are based on republicanism, with a semi-presidential system of government. The Egyptian economy was supported by the allocation of EGP 100 billion, representing 2% of the GDP (Egypt Oil & Gas). Egypt and Turkey ... different paths, do they cool the Mediterranean water or ignite it? He expected Qatar to not retract its political position with Egypt, but with regard to the economic file between the two countries, it seems that it is beyond the regional problems. On the monetary side, Abdel-Muttalib suggested reducing the interest rate and stabilizing the pound exchange rate against the dollar, ruling that the price would decrease below 15 pounds against the dollar. Each rating of 1 through 7, with 1 representing the highest and 7 the lowest level of freedom, corresponds to a range of total scores. Tools and resources to help your company expand globally, In this page: Only Stratfor tells you what's going on, why it matters & what's happening next Take The Offer - Subscribe Today. To find out about the latest public health situation in the Egypt and the current sanitary measures in vigour, please consult the dedicated page on the website of the, For information on the travel restrictions undertaken by the Egyptian government, please refer to the website of the, For the up-to-date information on all the measures applicable to movement of goods during the period of sanitary emergency due to the COVID-19 outbreak (including eventual restrictions on imports and exports, if applicable), please consult the website of the. International Trade Centre's COVID-19 Temporary Trade Measures webpage. It examines ten separate criteria or categories, covering the political environment, the macroeconomic environment, market opportunities, policy towards free enterprise and competition, policy towards foreign investment, foreign trade and exchange controls, taxes, financing, the labour market and infrastructure. He expected the trade balance of fuel to continue to achieve a surplus due to an increase in exports of oil and its products, which could lead to a decrease in the trade balance deficit as a whole. The government is also targeting GDP growth at 2% for FY 2020/21. For the up-to-date information on possible support plans for exporters in Egypt, if applicable, please consult the website of the Ministry of International Trade and Industry. Domestic demand and foreign inflows will be hit as the economy and external finances weaken in 2020/21, but growth will recover to about 5% thereafter. All rights reserved. The House of Representatives is composed of 596 members elected for a period of 5 years by universal suffrage. Introductory Offer - expires 11:59 pm 9/9/2020 In Egypt, there are 8 different active political alliances based on their religious and political orientation. The State has a presidential system of Government. Alibaba: Economic portal on the Middle East. Cairo - 18 December 2020: Egypt's House of Representatives refused in a statement, Friday the European Parliament’s resolution on the human rights situation in Egypt. In spite of economic diversification efforts, the country continues to depend on the Suez Canal for a large part of its foreign income. In 2020, the Suez Canal Authority generated USD 5.61 billion revenues (Egypt Oil&Gas). The country also became the 13th gas producer in the world (Le360Afrique), its production increasing by 12.4% during financial year 2019-2020 (Africa Oil & Power). For the up-to-date information on all the measures applicable to movement of goods during the period of sanitary emergency due to the COVID-19 outbreak (including eventual restrictions on imports and exports, if applicable), please consult the website of the Egyptian Customs Authority (in Arabic).For a general overview of trade restrictions due to COVID-19 pandemic, please consult the section dedicated to Egypt on the International Trade Centre's COVID-19 Temporary Trade Measures webpage. For the information on the economic recovery scheme put in place by the local government to address the impact of the COVID-19 pandemic on the Egyptian economy, please visit the dedicated page on KPMG’s website as well as the website of the Central Bank of Egypt (in Arabic). Each of the freedoms within these four broad categories is individually scored on a scale of 0 to 100. Inflation has been declining since end-2019 and has remained rather contained, registering an average of 5.7% in the fiscal year 2020 (from an average 19.6% in the previous three), reflecting subdued demand and the general decline of global commodity prices, including oil. The official unemployment rate, after reaching its highest level in the past 11 years in 2015, has been declining slowly since then and fell to around 8.3% in 2020 according to IMF estimates. Latest Update: January 2021. Elections for both chambers were scheduled for 2020. According to IMF estimates, GDP growth fell from 5.6% in 2019 to 3.5% in 2020, and is expected to further drop to 2.8% in 2021. In an interview with the French paper Le Figaro , Sisi responded to a question on a potential military faceoff between Egypt and Turkey in Libya, saying, “Egypt will never initiate an attack . The elections were initially expected to be held in April or May 2020. Agriculture contributes 11% of the GDP (World Bank, 2019) and employs 23% of the active population (World Bank, 2020). or against the media (censorship, confiscation, searches and harassment etc.). Does the IMF carry deceptive messages to the Egyptians? CAIRO — Egypt’s President Abdel Fattah al-Sisi said Dec. 9 that his country is working toward a comprehensive political solution to the Libyan crisis. This expected step, despite the technical problems with the dam, was justified by Hafez by trying to ensure that the ruling coalition won the presidency of the current Ethiopian Prime Minister in the elections. Deserts occupy most of the country. The President may dissolve the House of Representatives. And Shaheen spoke of the absence of any indication of the improvement of the deficit of the state budget, which means the continuing deterioration of the economic situation. For 2021, the priority is to support the economic recovery as the external environment remains fragile and risks include a second wave of COVID-19, less favorable financing conditions for emerging markets, and a drop in remittances (IMF). To find out about the latest status of the COVID-19 pandemic evolution and the most up-to-date statistics on the COVID-19 disease in Egypt, consult the. With automotive manufacturing, steel manufacturing, cotton cultivation, textile production and the construction industry, the secondary sector accounts for 35.6% of the GDP and employs 28% of the workforce. Source: In June 2020, Egypt adopted an economic reform program supported by a 12-month Stand-By Arrangement (SBA) with the IMF. To find out about the latest status of the COVID-19 pandemic evolution and the most up-to-date statistics on the COVID-19 disease in Egypt, consult the daily statistics published by the WHO.For the international outlook you can consult the latest situation reports published by the World Health Organisation. By continuing your navigation on our website. Despite the COVID-19 pandemic, Egypt announced record oil production levels, exceeding 650,000 barrels per day. They featured low turnout, intimidation, and abuse of state resources. Al-Koumi went on to talk about the repercussions of events in Libya, expecting that Turkey's intervention would change all the balance of the equation in the Eastern Mediterranean Region. Finally, a note and a position are assigned to each country. Source: According to Abd al-Muttalib, there are data and indicators issued by local and international sources, expecting that in 2020 there will be an increase in growth rates, and low inflation rates to the lowest level, and this is likely to lead to a reduction in interest rates, which will contribute to increasing investment and employment rates. Female youth unemployment remains very high (48% in 2018 according to IMF). Official turnout was also much lower than the previous election, around 41%. World Bank, Latest available data. After having recovered from the internal political crisis and revolutionary uprising of 2011, the Egyptian economy recently slowed down due to the outbreak of the COVID-19. It is largely dominated by revenues from telecommunications and tourism sectors. But government support for the pound will, in turn, require continued borrowing, which means increased internal and external debt. Since a July 2013 military coup, Egypt has sought to reassert state authority undermined by the 2011 uprising at the expense of political inclusion, especially of the Muslim Brotherhood. The latest breaking news, comment and features from The Independent. On April 22, 2019, Egyptians cast their votes on the latest amendments, that include extending the presidential term of office from four to six years, and increasing the current president's term, assuring that Sisi will remain in office until 2030. Economic policy will focus initially on mitigating the fallout of the coronavirus (Covid-19) pandemic, with fiscal consolidation delayed, but reforms will continue as part of an IMF programme. Although the President Gamal Abdel Nasser banned all political opposition, in a monopoly of power within the Arab Socialist Union (ASU), his successor, Anwar Sadat . It established an upper chamber called the Senate, composed of 300 seats. 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