Roundtable Discussions

The Egyptian Economy: Short and Medium Term Prospects

Date : 4/4/2011

Speakers : H.E. Samir Radwan, Alaa Arafa and Magda Kandil

No sooner had the Egyptian economy started to show signs of recovery from the economic slowdown following the recent global economic crisis than it was hit by the political and social upheaval that broke out on January 25, 2011. Mal-distribution of income, inadequate human development alongside lack of political reforms were among the key factors behind the widespread social discontent.Against this backdrop, this roundtable discussed Egypt’s economic priorities in the near and medium terms. Specifically, in the short term the economic agenda should target reforming government spending and the tax system to mobilize additional revenues for the growing social agenda. In the medium-term, the agenda should focus on creating more jobs and supporting productive activity to help vulnerable groups graduate from continued dependency on subsidies and increase income in line with productivity growth.