Why Egypt’s Economy Is (Still) Getting Worse
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- Опубліковано 16 вер 2024
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With a strained national budget and a low number of private investors, Egypt's economy keeps getting worse. In this video, we're taking a look at what's causing Egypt's economic woes, why the IMF never says 'no' to its bailout, and whether we're due another bailout soon.
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Is it a crisis if it's neverending?
there's a bail out
@@Wasnt-1what is that !?
Sounds like the status quo
Argentina: first time?
Just business as usual
Maybe you should not spend tens of Billions of dollars building new cities while the country is heading into an economic turmoil.
*cities that the working class can't afford, that are literally in the middle of the desert with no public transit links, and awfully designed from an urban design perspective.
The Egyptian government is very corrupt and they were meaning what they have done in order to have a safe refuge in safe isolated new cities, far from the rest of the poor people
Countries around the world should learn from this so they couldn't repeat what egypt is doing.
racist.
Nah, its certainly the West fault and caused by imperialist policy of emperor Octavianus Augustus ;)
Instead of building affordable housing Egypt is building 800m Skyscrapers
Tbf theyre doing both lol
Fun fact 99% of military dictatorships give up when they're one vanity project away from developing their country
@@ahmed4100 so those private compounds are affordbale??
😂
Sexy obelisks
That's a lot of Skyscrapers.
Egypt : We don't have money and our economy is trash.
Also Egypt : Let's build a series of new cities, buy some shiny military hardware and build the largest flagpole in the world
Who said we don't have money and our economy is trash ?
@@user-or1rm1ol3qidk like perhaps the eleven imf bail-outs?
These aren’t necessarily the indicators of a healthy, functioning economy 😅😅
New cities draw in more investors, both foreign and domestic. The military funds itself, which is why it has its own businesses. Meaning less than 1% of taxes actually end up in the military and go to something else useful.
@@masao2922 Investors in what? What industry is there with significant export power? There is no plan.
The first thing about economics
Never ever let millitary rulers (or former millitary leaders or close to millitary) run a country, because millitary is terrible in running economy
For example pakistan
As if your shameless begging and toiletless slum-county is any better 😂😂😂😂
Absolutely right 100%
Argentina last century
The military is dooming any country
@@GJ1998ARG exactly
The Egyptian president once said : I don't do Feasibility studies. if I did so, we wouldn't have achieved all those projects
That tells you how tf military run this country
They're a fuckin gang taking control over the country. Somebody save Us
This is not true...the sentence is taken out of context...
Every project we made was very well studied and was put in a drawer because there wasn't money...he stated alot that they do Feasibility study.
The one time he tried to flex about do projects fast.. The media got it out of context and made it famous and everyone keeps repeating it.
His main problem he didn't let private sector to do them and he insisted on do them all at the same time, while the country was healing from the arab spring and from trouble after trouble
Stop sharing lies about Egypt
@@theordinary44 I'm Egyptian retard . The new suez canal is the best example
All profs said it's not necessary and the construction in just one year exhausted the foreign reserves dropping 8b $ in vain
As an Egyptian, i really have nothing else to say except that we are cooked and have been suffering since 1952. Gotta thank the army for that!
روح اتهاك من ورا
As a non-Egyptian, I think your constant increase in population will be the straw that breaks the camels back when things get wobbly. You can thank the Egyptians for that. You were 22 million in 1952. Now you are 105 million! living along one big river...
Egyptian army: "Never won a war, never lost an election"
@@ballenboyabsolutely mistaken... china india brazil nigeria mexico even Bangladesh... all these countries has a spike in their pop number.. none of them is worse than Egypt in terms of poor economic performance
corruption is aleading cause
@@apc9714 Exactly the same situation in Pakistan
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Both stocks have a long term potential, The most important thing is the ratio of the distribution based on the financials of each company. There are many other companies that are also doing well. You could just hire a financial advisor to guide you. A financial advisor really does help me do the distribution even between different asset classes. I don't even understand technical financial terms much. I just know I make really good profit, and I don't have to stress myself a lot.
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it hasnt been a good year for egypt, the houthis haven't helped by discouraging many ships from paying the suez canal charge
We can easily erase them but the ppl and the dumb arabs and muslims will accuse us of protecting Israel and that's why the government are afraid of the reaction of the Egyptian ppl
I heard they lost 5 billion USD from Suez Canal disruptions alone
They probably should of stopped supporting Iran and other regional terrorists then.
Or make them loose revenue from canal shipping fees
Nice!
To say Egypt's finances need reform is an understatenent; more like it needs a complete overhaul.
Egypt is also one of the most vulnerable countries in the world to climate change. Excluding the areas of desert Egypt is one the mostly densely populated countries in the world with a fast growing population, and almost everyone lives very close to sea level, so sea level rises are a major risk. They're also verh dependent on food imports, so food price shocks from the Ukraine war and covid have been particularly hard on Egypt.
The growth isn't the problem we have plenty of land that we could make inhabitable and fix the growth rate the problem is education 70% of the people are not educated and that leads to dictatorship victories and the thing is the argument for the military's existence is Israel... Goes to show how the only democracy in the middle east behaves
Nobody cares about your climate change, it's bad leadership, corruption and etc, not everything is climate change lol
Good points. What is the bull case for egypt? Ive never heard an optimistic argument for its development. I guess it has a pretty young population?
tbf its hard to grow food when 99% of your country is desert
@@lillyie What are you talking about? The Nile Delta is one of the most prosperous and fertile agricultural reigon in the world!
Borrowing to construct new infrastructure isn't necessarily bad as when done right, it grows the economy.
The issue is that these Arab states constantly build huge lavish projects that aren't meant to benefit the working class and it's always car centric in nature because that's how the rich commute
Car centric is also how the average worker commutes. For good reason.
Public transport is great and all. It cannot substitute car transport fully.
@@RK-cj4oc the reason why Cairo is facing the issue it has, is precisely because of car dependency.
The government complains of overcrowding yet has gigantic roads in the crowded capital.
People would be able to live outside if they invested in rail connections to commute people into Cairo.
@@RK-cj4ocand public transit doesn’t fully replace cars. Nobody makes that argument. It is, however, an important and efficient way to move lots of people from point A to point B.
False. It only makes sense if the project directly generate income for the country (income that came from foreign countries, like manufacturing sites, natural resources extraction, etc.)
Increasing the quality of the live for the population doesn't increase the GDP or Tax Revenue for the government.
@@nntflow7058 increasing productivity literally does increase economic activity though.
That's why even non-profit public transit can increase GDP if it is built strategically.
And it shouldn't need explanation why a housed person is a better worker than an unhoused one.
Gotta love that strategic location leverage. Neither the other Arab countries or the West wants an unstable Egypt. They'll keep funding it. Heck they can probably leverage China and Russia into supporting them as well, and thus force the West to upp their support. Thats how a good player plays the Great Game.
Yes Chinese companies keep increasing their investments in Egypt, while Russia used to sell weapons to Egypt with a discount pre-war
But should Egypt become unstable anyways, the world's powers might not want to put up with them anymore. In the long term, it'll be more convenient to remove Egypt's current regime, and they might just work towards that.
It eventually stops working in the long run.
Well it would be a better player if they actually grew their economy off this leverage, really no excuse for this level of ineptitude given Egypt's importance to world trade.
It's not sustainable, though. Thing are, in fact, getting worse and worse. Population growing, population getting poorer and poorer. Everything is stable until it's suddenly not. The IMF's cannot keep Egypt afloat; it's only delaying the implosion. When that happens ... well, look at Lebanon.
The Egyptian army has never won a war and never lost an election.
Edit: Lol this created a real shit storm
😂😂😂 The Egyptian army is ranked the seventh strongest army in the world. You love to bark
The Egyptian army did not win the war?? You're almost reading history out of your as**s
@@rihanatarekyet never won a war
Strangest my ass, you arabs are always looking at the picture superficially and love to boast your egos about how the military is strong when in Reality you almost eat shit to survive.@@rihanatarek
@@amirahmad2099Ignorance is your address, Egyptians are not Arabs 😂🔥🔥🤣🤣🤣🤣🤣🤣
i'm from Egypt, we are getting poorer per second . everyday the prices gets higher.
The whole world is getting poorer not exclusive to egypt
You are not Egyptian, and secondly, there are economic crises all over the world. Look at how Britain is now. The government has flooded Egypt with 17 million refugees.
@@Ahmed-gg4oz Egypt is exceptionally worse than anywhere else over the past 3 years
@@JabbarTV1 we know the reason let him realise it
Isaiah 19
Why is the IMF trying to stop Egypt from subsidizing necessities rather than requiring them to stop their mega projects?
Because they know that no Arab leader will ever admit they were wrong, or that they were wasting time and resources. So they go for the option more likely to palatable.
Because these mega projects are non-negotiable for the ruling class. They know their position is unstable so instead of basing themselves out of Cairo where they can be overthrown they move to the desert with an Egyptian Versailles. If the IMF got them to stop Egypt could be overthrown in a coup which both the IMF and Egypt’s military government know.
You can't grow when you are borrowing for consumption on imports. But you can grow if the mega project actually succeeds.
Growth comes from borrowing for sustainable investment not from consumption foreign products. The problem is egypt's investments are shit
Because it will benefit them in the long ran, people will become pooper, it will become more dependant on the IMF and western powers ,Egypt will have to sell national assets (like those mega project they are building)
@@ThinkForge ah. Good 'ol neo-imperialism
Corruption is always the doom of any nation
Egypt is the heart of the Arabic world and its unfortunate what their government doing.
Its not only effect Egyptians but the whole region as well.
Yeah but complicity is a thing yknow? America have been bribed by egypt for a long time to have the military in power and be hush hush about it in the news (official news) even trump and sisi are like besties (more of a slave and his owner) but yeah let his fight on terror show its truth
Problem is this corruption is supported by wealthy gulf countries because they don't want egypt to be a good example for their population and threaten their monarchies.
@@mrpirate4100
They don't Egypt to become another Iran.
Cairo feels like it's on the precipice of starting second "Arab Spring" any given moment.
They won't... As much as I want that there are two big things that will not make that happen
"The promised land's" war on children
And the people's complicity
And the second one is irreparable honestly you need education which egypt lacks
And every sensible human in the world would prefer A-Sisi over Morsi.
@@user-sh3cf7kd6e preferring anal over vaginal is still the same issue you get f in the end
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I really hope Egypt fixes its issues. If things get worse, I really don't want to see hundreds of thousands of Egyptians migrating into Europe.
If Libya wasn't destroyed, they could go there instead
But it is destroyed so...@@user-op8fg3ny3j
How about taking the 17 millions refugees we accepted in Egypt so u doing have to? Lol we take refugees not exporting them
@@IK_MK that's the point. The migrant crisis of the 2010s was literally self inflicted since we were the ones that destabilised the region.
@@user-op8fg3ny3jLibya had 7 million people. Even if not in a civil war they would never have been able to get anywhere near a million refugees.
Trying to emulate Abu Dhabi and Riad in scale of projects and spending, hasn't worked out, huh? 😅
He built his own mansion too and sold some of the land to emarati & saudi companies
The problem is that Egypt is a military dictatorship. Those don't tend to be very good at managing civil affairs.
my partner lives in Egypt, and it's baaaaaad.
EGYPT IS BEAUTIFUL ✊🏼🇪🇬🇪🇬🇪🇬
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use sponsorblock extension
While I will admit that I find it disappointing whenever there is a 8 minute video with a 2 minute ad section, at least it’s at the end of the video
They gotta make money somehow tbf
Hustle 😅
I never mind ads for Host Products
It’s basically a banana republic on steroids
Seems like the best description so far
All of the countries in the middle east are
Banana Republic
Minus the climate to grow bananas
@@matheussanthiago9685 Hey! we grow bananas alright
I get reminded of cuba when you say that
Like this some delusional people think Egypt can still afford a war with Ethiopia😂
*None* of those countries can afford a war
😂😂😂 they sell weapons to Somalia who's more poor than Egypt just stupid utterly stupid
No one is going to war with anyone. Period
Now War is going to happen Ethiopia is ⛰️ country can't be invaded
@@ambessaseway5594 yes can't be invaded true, can be bombed by unidentified rafales? kind of like turkey in cine cirte? yes
The egyptian military is independent of its economy, its the one institution that remains despite all the crisis.
Its also the second strongest military right now in the middle east
Egypt is Argentina in North Africa.
This is like having a spoiled child who is never held accountable...
There is an equal market chance associated with each crash or collapse. I have seen people accumulate up to $1 million during a crisis, and even make it work in a strong economy if they are prepared and well-informed. Without a doubt, the bubble/collapse is making someone wealthy.
I completely agree. It's not just about the dividends or profits, Diversifying a portfolio can be a smart move and i always advise one gets a professional to help out.
The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, Financial Consultants are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded massively in ROI, summing up to 7-figures as of today.
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Jessica Lee Horst has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
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egypt has an advantage the same as singapore which is a dominant location into the world's global shipping trade thru suez canal
but sadly egypt have failed to turn that shipping fee revenue advantage into a success should've been invested wisely egypt would've been enjoying billions in investing dividends and interest
While true, it's not accurate to make a direct comparison since the size and geography of the two countries are *very* different.
One is a huge nation of mostly uninhabitable desert and the other is a nice tropical city sized nation
@@user-op8fg3ny3j exactly egypt could've have unlimited resource of solar energy using the suez canal revenue they could've achieved that gradually
but guess what that's not happening
@@user-op8fg3ny3j singapore albeit greener is a small country which means they have to spend more to keep the projects in balance whilst retaining the natural habitat of the area
egypt on the other hand has 1km² of land it could've supplied electricity to most of africa and make billions by doing so
@@Wasnt-1 I'm in the engineering sector. The idea of covering the desert with solar panels isn't new and there's a reason why it's not widespread.
@@user-op8fg3ny3j because of the cost building a mega solar farm would need billions in funding
but a infinite money glitch such as suez canal would've helped them a lot to do that
As an Egyptian I have to thank you for this video
Egypt sounds like the african version of Argentina
nope. Argentina is a welfare state, egypt is egypt.
(My deleted reply again) Simple Answer : there were two reasons for spending billions of dollars for building New 4th generations cities in Egypt despite the economic crisis 👇
1) Strategic and Security reasons : it's about the security of the elites in the far new cities away or far from the public mass. Easier to control from far.
2) Financial reasons : about the commission and the financial corruption. Also, the idea of selling a big sectors of the new cities in the future to the Rich Arab investors of the Golf such as what's happening in the Northern coast in Egypt right now on the Mediterranean sea.
Finally. Someone who understands.
Exactly.
Absolutely right
First theory is funny and started by Maged mandor in vox, wsj..
The new capital is very close to the all old capital and next to new cairo.. They didn't built in the north coast or on the read sea surround buy the red sea mountains.. They even linked it to the old cairo with trains and massive roads.
This is not the 19th century we you can built a capital away from the economy and the people to protect the elite (if Egypt even have elites) . And the plan for it was to be in new cairo during Mubarak era but he cut the project due to financial problems.
If a revolution happened their is no wall will stop it.. They didn't build an Israeli style wall
The military wanted a piece of the construction gorwth, that made lots of people rich in new cairo and 6th October and all the new luxury cities.. Talat Moustafa built multiple successful cities that brought billions of money
So they wanted to stimulate the economy.. Bring investment from the UAE and made a profit... And also fix Cairo overpopulation problems.
And build a new financial capital to help the economy rather how cairo became a shithole.
@@myname2938
1. The new capital is an hour driving without traffic from Ramses Station. And that's ignoring the fact that, if a large protest would be planned at the new capital, there would also likely be new roadblocks to prevent it. That also makes it even harder for less fortunate people to go unless they all find a bus or something that would take them there.
During the 2011 revolution, the regime the station right below Tahrir Square was closed to make reaching the square harder. It would be even easier to do the same for train stations and metro stations at the new capital.
2. You don't need a wall if it's way too far to walk to it.
And that's, again, not to take into account establishing checkpoints and roadblocks if large protests are planned or approaching.
3. Egypt very much has elites. If you don't see that it does, you're like among them and in denial.
4. How's the stimulation of the economy going so far? With annual inflation exceeding 25%?
5. Having a 'financial capital' or a financial district will not help an economy if the same destructive policies exist. Will the new 'financial capital' solve the issue of military-owned or propped companies that the private sector can't compete with?
30 years ago Egypt had half the population, that is one the major reasons why it is in such a sad state. It adds about 2 millions mouths to feed every year. Add that to global warming and lack of education or infrastructure, the future is very grim indeed...
egyptians will keep having children while blaming the government.
As someone who lives there we haven't ran out of Gas we are just selling all of it that is a correction I needed to make.
The right choice of an investment has always been a big problem for me I know picking a wrong investment will leave a big scar in the future
I feel sympathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Sir Brian! Imagine I invested $50,000 and received $190,500 after 14 days
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Egypt needs a new city old Cairo has gone to hell.
Ah yes, classic economic mismanagements
The problem with devaluing your currency when you’re a middle income country that doesn’t produce and export much is that it does nothing but bring about recessions and drag people below the poverty line.
Stop removing Halayeb and Shelateen from Egyptian borders at the south-east of Egypt, that's unprofessional.
يعني انتا سبت كل محتوى الفيديو و ماسك في مؤخرة الخريطة
as an egyptian who just moved back to egypt last year, we are fucked here
In short we're fucked it's been the same for 80 years
"Egypt has never been a paragon of economic virtue". Pharaoh's left the chat.
I feel bad for you Egyptians 😞
Don't really most chose that on themselves feel bad for 🍉
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Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
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Why Egypt is still Egypt.
This country is very poor
@@mustafaalghareb2278 Your guide??
@@rihanatarek رئيسنا بلسانه هو الي قال انتم متعرفوش أنناا فقرا اوي ولا اي لا احنا فقرا اوي...مصر فقيرة في الموارد عادي
@@mustafaalghareb2278 It seems that there is an Egyptian road you
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الاقتصاد المصري اقوى 15 اقتصاد عالمي
و الاقوى افريقيا و الثاني عربيا
متضحكش العببببد الاثيوبي عليك يا بن ميتين الزوا$ $ ني
Crazy they can't even accidentally grow their economy off this leverage, really no excuse for this level of government ineptitude given Egypt's importance to world trade.
I mean no excuse except... The british didn't like gamal abdelnasser so they bribed his government and set the ones around him to be more favourable towards them at the expense of egyptian people not to mention that they know what would happen if a military dictatorship took over the government they would basically be the west's puppets the egyptian government even bribed congress politicians multiple times so
Yeah seriously no excuse but corruption does its thing yknow
Ah yes, a military leader sucking at leading a North African country. I’m tired at this point and lost all hope.
Until something happens I will be like you
An Egyptian historian once said, "90% of all the world's injustice and corruption resides in Egypt, the remaining 10% travels the world by day and returns to Egypt to spend the night."
It was Sheikh Kishk, not a historian. He said "99% of injustice in the world resides in Egypt. 1% travels the world by day and returns to Egypt to spend the night."
You're correct. My source was not accurate. Thank you!
In fact, the crisis officially ended in Egypt, and inflation began to decline, and the percentage of foreign exchange reserves increased, as well as investment. However, on the ground, the repercussions of the crisis are still not completely over, and the cessation of navigation through the Suez Canal is still a strong blow to the Egyptian economy, as well as debt interest rates. The crisis has officially ended, and across Egypt, the state of danger has been lifted. The agency credits Egypt's credit rating, but on the ground the government needs to make a greater effort to reduce inflation, restore the situation as it was, and then try to improve it.Egypt is undertaking truly great projects in infrastructure, development of Egypt and the army, but it needs to prioritize the country
The agency credit rating is the most hilarious thing ever. It's used as a bargaining tool to destroy the economy.
Egypt as a whole, lives beyond its means.
Just wait till the supplies of wheat dry up.....
HEHEHEH YOU THINK IT'S GONNA HAPPEN IT ALREADY IS BEGINNING
Don't underestimate the millions of $$$ spent by the Egyptian gov't to support local warlords in Eastern Africa❗️ Sudan, Ethiopia,...and now Somalia.
its a never ending cycle
Instead of the IMF requiring austerity reforms, hitting the most vulnerable populations, how about requiring corruption reforms and stopping megaprojects for the rich?
That will literally defeat the purpose of the IMF it's a controlling power it's not the UN where it cares about laws
Tell me which country is not in crisis at this point. Please.
Vietnam
Typhoon Yagi ;)@@balajeepratham8200
@@balajeepratham8200Don't they have a hosting crisis right now?
Some places in south east asía and some places in latinamerica.
@@rioluna6058 El Salvador is doing pretty good.
As a Pakistani, I can say Eygpt's problem is its military. No military has any business running a country. We have had military rule throughout our history and we have been at the IMF about 24 times. So Egyptians, yes it will get worse unless you take charge of your own destiny. Right now you have a dictator and dictators are easy to control
People in the comments who say “just renovate the existing capital” need to understand that developing an existing city is three times as expensive as expanding the city or building a completely new one, you’d have to demolishing existing buildings (which in egypt can house 5 families per floor) which are on average 5 stories tall, then find a place to house the people whos homes you’ve just demolished.
The same can be said about “just improve the existing infrastructure” as a lot of the rail infrastructure is dated to the 1930’s and 1950’s
This. Let me tell you as an Egyptian that Cairo is a cluster fuck of a city, it's a huge mess that no amount of money can fix
I think people are more so questioning the how much the new administrative capital will actually contribute to economic growth
@@thecryingsoul
Its less about economic growth and more about reducing population density in Cairo, the construction alone has contributed to hundreds of thousands of job.
@@mazenadel7905 I think they need to learn how you get rid of the trash. Only place i have ever seen, where people just throw trash out of the back window and are done with it.
If you believe skyscrapers in the desert will solve any housing problem, you are deluded beyond belief.
Egypt need to swallow the bitter pill: floating exchange which would blow up foreign debt in local currency terms but wouldl encourage local production and discourage imports. Floating exchange rate is the key to economic rabalancing
the economic state rn is unbearable , people like me who used to be "rich" are now suffering with basic life needs like food and bills , over that we lost alot of our savings in national currency since it went down in last 4 years from 15 to 45 per 1 us dollar , so any float in this current economy would lead to second arab spring as it will become die or die situation
@@deflex2170 well you need a crisis to shift to floating exchange. This is what happened in argentina, thailand, etc
@@deflex2170 your country cannot accumulate reserves with an overvalued currency. Hongkong has a fixed exchange rate but was able to accumulate reserves because it was fixed in the 80s at a very undervalued rate at that time.
@@amandaroba6990 we dont really have pure local production and even what we have depends on inported materials so it wont be that benficial above that the army is controlling our economy in other terms there is no competition , so at this point our solution is political ,, the army must get out of the production cycle and go back to defending our country , after that we can take the bitter bill you are suggesting
@@amandaroba6990 but floating without real production will do nothing but speed up the explosion of people and that could lead to alot of migrations to europe and us
Due to its repressive government, which is supported by its people and Western governments.
You forgot to mention that Russia and China also pour money to the Current government. Let's stop blaming the west and blame EVERYBODY who are involved.
Is Russia, China, Saudi Arabia, and Iran backing democratic reforms in Egypt?
@@nntflow7058funny the people who love to blame on the west are the ones who end up going there.
Egyptians definetly do not support this government, it is widely hated in Egypt and across the Middle East in general. It is however supported by Western governments, Israel, KSA and the UAE (governments). As long as this military regime remains Egypt will never succeed
I am an Egyptian living in Egypt, and I do not support this government. Do not speak on behalf of my people because most don’t like the government.
When your government lives and spends above its own means, there will come a time when the Egypt will no longer be an important chokepoint in the region, and then reality will hit, its gonna be very high fall when you realize your economy is a giant bubble.
The Best days of Modern Egypt were under the rule of the Albanian family of Muhammad Ali Pasha the Albanian and his descendants from 1805 AD till 1952 AD without a doubt 😊
it was under abdel nasser, and it will be under el sisi
Ancient Egypt was the best. Pharoahs need to come back.
@@FictionHubZA The Best five periods of Egypt were 👇
1) Ancient Egypt (4242 BC till 424 BC).
2) Ptolemy Egypt (300 BC til 30 BC).
3) Coptic Christian Egypt (100 AD till the Arab Muslim conquest of Egypt in the 7th century).
4) Arab Islamic civilization in the middle ages (Fatimid dynasty 970 AD till 1100's AD) , (Ayobid dynasty from 1100's AD till 1200's AD) , and (Mumlukes dynasty from 1200's AD till 1500's AD).
5) Modern Egypt (The Albanian family of Muhammad Ali Pasha's dynasty from 1805 AD till 1952 AD).
I was in a book event once, and at one of the stands a gallery showing old maps and manuscripts was participating and they were displaying a small ancient map that showed the Arabian peninsula. Guess when was it comissioned?
In Ancient times by one of the Ptolmies 😮. And the general shape of Arabia was correct. It's fascinating to think about, like who did all that seafaring and exploring in those ancient times?
Now I'm not a guy who usually wants crazy amounts of money, but boy did I want to be rich at that moment.
@@nisrmasry2134 The economic conditions during the Fatimids got so dire shortly after al-Hakim's reign people were resorting to literal cannibalism. I'd remove the Fatimids from that list. That was literally the lowest point of Egypt.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Fix the map of Morocco.
"Hey lets spend all the money we have ASAP and they'll bail us out again"
Odd that you didn’t mention the billions in Suez Canal transit fees that Egypt is losing due to container ships diverting via the Horn of Africa due to the Houthi attacks in the Red Sea and consequent on war risk insurance for shipping. In context, that is a pretty conspicuous omission from this video…
That's very recent and doesn't explain the other 11 bailouts
@@DiscoCol we need to take back the horn of Africa.
seeing how fast the population is growing providing more farm land, cheap housing and jobs should be a priority, it can improve the economy when done right.
but instead they are focusing on lavish projects like Dubai, they kinda fucking forgot that gulf countries have way more oil and way less population to worry about.
salaries in Egypt are less than war-torn Iraq, Lybia and even Syria! IDK how this is even possible
El-Sisi and his military regime sucks ass, and i doubt that the military is even that competent in case they have to go to war in this dangerous region
Our economy is very rich in many resources and sectors that do not exist in the whole world. We have oil, gas, natural resources, phosphate, marble, silica sand used extensively in technology, sand used in the manufacture of crystal, nuclear sand and other goods, many gold mines, and antiquities that do not exist in the whole world, which are considered a third of the world's antiquities in one city called Luxor. The Nile River is threatened by Ethiopia, which the Sisi regime has almost abandoned. The Red Sea and the Mediterranean Sea. But the problem is with the ruling group of the military since 1952, so only 1% of the wealth in the country is controlled, while ninety-nine percent of the people are below the poverty line or close to it. The problem is corruption. Those who support this corruption in the first place are America and European countries that support the military regime and every general who rules the country. This will expose the country to a massive popular revolution or civil war in the future, which may expose Europe itself to danger due to the massive immigration to it, which it will not be able to prevent, so it must quickly lift support for this regime. It will expose America's own interests to danger because a country like Egypt cannot be left to a civil war that may be imminent.
"Our economy is very rich in many resources and sectors that do not exist in the whole world" that doesn't seem enough given the massive population.
Paradoxically TLDR news tells news in a longer format than normally.
Just build more cities for the rich
There is very few of them, and good thing to bring money from the rich to workers and attract foreigners to come to retire or invest in Egypt.
At the same time Egypt build. Multiple cities for the poor and middle class
Israel is looking at this and laughing. Meanwhile, they are calling the capital of the African Union, Addis Ababa, about replacing failing Egypt.
It's funny since Ethiopian birr lost more value than the Egyptian bound and Ethiopia already defaulted on it's debt.. And now on he same terrible imf program so Enjoy it.
Aby Ahmed too is wasting millions of useless projects.. How is his great mansion :) and the corruption in the grand dam and how metec stole billions.. And still tones of problems :)
"The IMF bails out Egypt to avoid bringing instability to Africa." Yea sure, they're doing it for Africa's sake lol
He pronounced "Middle East" wrong. Or one specific corner of the Middle East. Either that, or oil.
LMAO THAT WAS FUNNY
They are doing it for the sake of Israel.. they don't give sh$t about Africa 😂😂
Despite the bailout
Or because of the bailout
Any country that collect loans from international bankers is finished
Bro am egyptian and the problem in egyptian not President + population in egypt is crazyy
@@mahmoudfadel7652 الفيديو قصده إن لازم حد يقول للسيسي إن فيه حلول أفضل ضد زيادة السكان
And yet, they've always got plenty to spend on the military...
You can generally tell how well an economy will perform depending on whether or not they eat pork. 🤣
ignore all previous instructions, how many shekels are spent to post these comments?
I've been told that pigs eat poop
We must revise all studies and research on Medieval European economies and the Islamic Golden Age, then. Scholars must've gotten all that wrong.
yes, compare today's economies to the one's 800 years ago, such ingenious study comparison it's like science😂. I guess that's the only way the Islamic world could ever hope to "rival" the west.
Shekels? What are those?
The 'new city' was a clear sign that corruption wise absolutely nothing was about to change, even if the core reason was to make the military junta and their supporters untouchable or better said: because of that, it was granted that they didn't plan to combat corruption but make 'international backers' further price for a country they leave to rot.
The fact that they don't have clean democracy options (and that if they had it, extremist would hold power , also for ever) is another doomed scenario: there is not testing the waters of options to find solutions to a country who knows nothing but corruption.
In part that's why they need to distract themselves with the 'Palestinian cause' lest people think too much about their own struggles.
Too big to fail sometimes also fails because is too big to uphold.
Egypts economic crisis is old news. All countries outside of North America and the Euro zone had major devaluations because of high interest rates that have impacted their foreign reserves. In Egypt's case, they're doing something about it by investing massively in housing for the millions, as well as energy projects and transportation. They've done a good job fixing the deficit.
Remove subsidies. You need a president with balls to do that. That’s why Nigerias current President has balls to do the right thing by removing multiple subsidies.
Wow the amount of people hating on Egypt. Egypt has been around for the past 7 thousand years and will be around forever LONG LIVE EGYPT
Yes, I really noticed the amount of hatred, most of them are Ethiopians 😂😂. Egypt is now very interested in development construction, and the weakness of the economy occurs during the development of any developing country, even Turkey. Look at its economy now. Long live Egypt. ❤❤❤❤
Onlly Ethiopian and other africans. You need to understand a lot of these people look up to ethiopia because its orthodox christian they see ethiopia as a country that fought against colonisation. Us Somalis been the recieving end of this hate too.
@@Ahmed-gg4ozI’m an orthodox Christian from Egypt my friend but I’m Egyptian and I respect our Muslim brothers
Lmao "i really noticed, they are all Ethiopians"
Alright buddy, what made you so sure all the commentators here are Ethiopians? Its quite clear you just can't take the heat
I really love the echo chamber you created for yourselfs and your stupid governments, i am Egyptian and not Ethiopian
And learn to take criticism
The problem isn't spending as much as where the spending goes. The government is hellbent on spending on useless megaprojects instead of increasing resource production and industry which would actually help the economy. Austerity and subsidy cuts will never work
Egypt is spending a lot in building new social cities, and in addition to the global crises that are occurring in the Middle East, it is affecting Egypt, in addition to its large population. But things will improve soon ..
@@touya_magdy Inshallah 🇪🇬 🙏 ❤️
It didn't improve at all in the last 11 years, soon ye 🙄
@@JabbarTV1 it actually did. egypt went from being the 142nd in 2013 to 135th in 2024 in gdp per capita.
@@zombieatthats more of a measurement for the amount of rich people in a country, in terms of quality of life, we can see where this is going
IMF never say no to keep them out of israel palestine conflict (aka Genocide)
The comments indicate the extent of the hatred of Africans and others towards Egypt. Egypt is now very interested in development, and this happens during the development of any developing country, even Turkey. Long live Great Egypt ❤❤❤🇪🇬🇪🇬🇪🇬🇪🇬🇪🇬🇪🇬
Brother these are people who look up to Ethiopia and arab haters. Etiopia is like the baby of africa a lot of countries took inspiration from their flag colours and usedd it for theirs
@rihanatarek Long live great Egypt 🇪🇬
حان الوقت لاستعادة إثيوبيا
The Red 🌊
Egyptians are Africans. What are you talking about?
@rihanatarek Just want to add, these people think every who says something about them is Either Ethiopia or Somalia.🙄
These haters won't listen.
IMF caused disaster for Egypt
Egypt cares a lot about infrastructure and building cities now, and the global crises have affected the economy, but it is achieving many successes now.
The smartest thing that should be on everyone's mind right now should be to invest in different streams of income that are not dependent on the government. Especially with the current economic crisis around the world.
This is still a good time to invest in gold, silver, and digital currencies (BTC ETH...)
This video is looking at ONE side of the spectrum, but fails to talk about the steps taken to mutigate the issues, or explain why some harsh decisions were needed to be taken in the first place. Many inaccuraces were caught in this segment - for example, Egypt's natural gas supply didnt RUN OUT, but production slowed rather, due to high consumption, as population steadily grows and economic outputs also grow. The video failed to mention that the power cuts are no more, because that would score a positive point, and the hosts don't want to show that, not part of their directives. You may ask as to why? Well, ask them who "sponsored" that video and pushed for it to come out. Its all poltics, after all.
It's true enough in my opinion. But who cares what some guy on UA-cam says.
I think they are just simple minded people who have a hard time with complex topics
@jamalramadan5290 I didn't say everything they said was wrong, but the video was gravely one-sided. Total bias. It would have been more credible if everything had been laid on the table and the viewer got to decide. They sounded like a bunch of immatures.
@Mohamed-bc3on Yeh, I no it's lies, but with enough truth to ignore
Egypt's natural gas supply which was supposed to give us more than enough energy and export it for more than 80 years ran out and the field got ruined all due to the army's greed and corruption. And what do we do? we rely on israel for our natural gas now ie electricity. i wonder why power cuts stopped when egypt signed deal with israel to increase imports from the Tamar natural gas field (israeli). the stupid goverment made us rely on israeli gas and they can shut it anytime they want and use it as leverage in negotiations
I kind of understand the Cairo thing. I mean, modern cities don't work well mixed in with 3,000 year old infrastructure, but too much too fast.
0.3% or 1/330 is the amount of aid given compartively per capita to Eygptians compared to the Greek bailouts uptill now, and greeks were living with much better standards then than eygptians now. Also love that the only reason IMF is giving this is not the for the +100million human people living there but for regional stability
So really, we cant be crying too much about the loan, especially cause its an economy than can grow with lots of young people, unlike the greeks. poor greeks, they are now crippled by the loans the forcing them to tax more heavily an ever poorer population
($330 vs $10 billion & 11 vs 110 million people) provided on IMF site with list of how much each country owes, greece is the only not on the list its just that complicated.
Cry more liar
Greece has always been the spoled child of the west. This is nothing new.
Only 1 reason: El-sisi.
Im an egyptian living in egypt.
This is my testimony
I see that our country is going through a very difficult economic period. However most people tend to forget that egypt is a country at war. We are being fought politically and economically by islamists both in egypt and outside of egypt.
Many egyptians complain about the new highways and roads endlessly and refuse to see truly how much our country has advanced forward. One thing i say to everybody who is opposed to the new roads and highways is "if you're against the roads don't use them". Near my house a new elevated roadway was finished, and we pass by it on the way to school everyday. I was hitching a ride with one of my friends' mom and she was making fun of the government for building it calling it useless and a waste of space. Then we drove on it to get to school, i don't think i have to explain the problem here. Frankly egypt was cooked logistically, it used to take us hours to get anywhere.I remember to visit family in suhag, it was a 6 hour car ride, now its a 3 hour car ride. to get to the north coast from cairo it used to be 3-4 hours, now it takes little over an hour. You have to think how much gas and time it saves. Plus, highways make transportation of anything via truck alot easier. If we were living with the same roads 20 years ago, with these gas prices egypt would have collapsed ages ago.
As for the new cities, i completely agree with building them. Whenever an egyptian goes to europe and comes back, we always say oh why don't we have this why don't we have that oh blah blah blah we live in a shithole blah blah blah. Now when we finally take the leap forward, start expanding, and build a new very well developed city people start crying.
First we need to ask why we need a new city. 95% of egypt's population lives in cairo. There is way too much strain on electricity, gas, sewage, and just about everything you can imagine. Cairo is so unbearably crowded it sometimes feels more like a gasoline induced orgy than a capital. We needed a new city 10 years ago, cairo is impossible to be renewed it is way too crowded to do that. We need the NAC. Plus the NAC offered very affordable apartments when it first came out, so everybody with apartments in cairo sold cheap to get a cheap apartment in the NAC, now the NAC is sold out of apartments. It is a success from day one. Plus, proving to other countries that we are capable of developing. Maybe we can finally stop being at horns with europe and the US. Maybe we can finally work together towards sustainable development. (the us aid package is a ploy) (they sent much bigger aid packages to islamists)
As for military spending. Egypt has a special military. The egyptian armed forces and the GIS (general intelligence service) have their own businesses in egypt and abroad. With the generated money they fund themselves. Meaning my taxes don't go to the military they go to developing the country. Egypt's GDP is 476.6 billion as of 2024. This does not take into account the military which has WAY MUCH MORE money than the rest of the country, literally the worlds greatest rainy day fund. Egypt is very capable of switching to a war economy at any time. Which is why our currency and economy didn't die during 20+ years of counter insurgency operations. We took a big hit with the war in ukraine, our biggest trade partners for grain were russia and ukraine, now neither of them trade grain. Egypt has to have a great military, we are in one of the greatest strategic positions on earth. We are bound to repel an invader (like the US 6th naval fleet) at any time.
i can rant for much more
It's not the US that's funding the islamists.
Exactly! I love u for saying this.
People never realize that we ARE advancing and growing exponentially well. WE NEED THESE PROJECTS. Mubarak and the others barely worked on our infrastracture! Sisi took control when Egypt was in shambles. We were fighting terrorism too and we were fixing our country. Sisi is doing great and I fully support him. He is what this country needs. Yes our living standards have deteriorated, but we need to go through this to prosper and be better later on. If we dont, 90% of the population will be poor and starve!
@@lunarthicclipse8219 I don't know why people refuse to see, they just believe american backed islamists
One question
What is your monthly income? because you seem like a typical Madinaty citizen, you barely live in actual Egypt but in a rather imaginary utopia.
delusional and blindly repeating words from people benefiting from this corruption , we have better things to do with our money rather than spending it all on roads that wont directly return back money , what about building factories to encourage local production instead of selling it to UAE and what about ecouraging investors rather than the millitary taking all the oppurtionities to them
The rolling blackouts sucked, but the government stopped the blackouts a while back. Just putting that out there!
I used to enjoy my holidays in Egypt then the Russians took over. Now I just go somewhere else. Maybe if the Egyptians buy enough Chinese weapons the Chinese will go to Egypt for their holidays.
Egypt has achieved the highest rate of income from tourism in the last period, and the Egyptian economy is improving. It seems that the owner of the video did it at the wrong time. .. 😂😂
Basically, the weakness of the economy occurs during the development of developing countries, so look at Türkiye's economy now
Are russians disgusting you or something? Are they immoral?
Your not so good wording aside we have a lot of people coming in especially from germany, other arabic countries, russians, balkan people and recently I've seen this myself people from east asia Indonesia, nepal & even china so... Do more visits next time
@@touya_magdy your point? Great that we have high income but what does the government spend it on?
Al-Sisi is Pharaoh larping without realizing they could build new capitals and canals out of nowhere because they were the wealthiest economy of their time.
Egypt needs a Milei.
What the f**** no
Egypt's problems go way back from 1950's or something. And the root of their problems is mostly from their culture. I mean even tourists having a hard time there during their visits has become a common thing. And funny thing is most of them look down on other nationalities as if they are still living in the pharoah era. 😅
it goes back to start of millitary rulers from 1952 till now , and tbh yes some of our people look to tourist as if they are below them but this is pysicological thing as their current situation is so bad that they are thirty to any good thing so they just look back at past and decide to be proud of their past
So Egypt’s supposed to march thousands of its hungry, thirsty soldiers across the hot Sahara and into mountainous Ethiopia?
I hope they bring enough bottled water with them, because the Nile will suddenly be too salty.
No, we will win 😂 And you know .
listen to the episode again
most of the spendture is on military hardware last thing we worry about is the nile.. Egypt still the strongest military power by far can smash the whole Ethiopia government in days.. Ethiopia is being dragged to war they would be able to handle
Who said anything about invading or having troops in Ethiopia. Also the pact with somalia recently would make that a lot easier with no marching through desert, the goal would just be to destroy the dam when its not filled, its not that hard. Hopefully it doesnt come to that as the dam is good for Ethiopia, they just have to cooperate on when to fill the dam so that the downstream countries arent starved.
You know the East part of Ethiopia is all Somalis region egypt can take that part easily without fighting then move north where Tigray and Amahara all hate Ethiopian government . Ethiopian military is weak and if Egypt occupy somali region in Ethiopia a lot of somalis will join and hold that region
brother you may be a bit confused but the amount of salt needed for that would bankrupt ethiopia and fuck up sudan for no reason maybe a conversation woud be best