2005 – Egypt’s poor untouched by economic boom

Source: Aljazeera.com

9/1/2005

“Egypt’s economy is growing at its fastest pace in years, exports are surging and the bourse is booming, but there is little sign yet of an economic revival in the poor suburbs and crowded slums of the capital”

This article from Al Jazeera English describes a pre-uprising atmosphere in Egypt where the country’s poor saw little befit from the country’s growing economy.  At the turn of the century, the Mubarak administration, in accordance with its structural adjustment package, privatized much of the country’s state run businesses. This led to massive lay off of Egyptian workers.  Official unemployments estimates at the time were around 10 percent, however, unofficial estimates, which include jobs outside of recognized labor, placed the unemployment rate at levels up to twice that number.  With roughly 20 percent of the population unemployed, the government cutting its public sector, and reducing its provided social services to reduce its deficit, its no wonder that people took to the streets in rage.

Full article available here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s