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Daily News Egypt: The government’s economy and the people’s economy

Even though the presence of the non-official economy is greatly connected to developing countries, all economic systems include non-official economies
08.03.17 | Interesting article at Daily News Egypt

It is now clear, as time goes by, that we are talking to, criticising, and offering solutions to an unworthy government that unfortunately treats us the way an Egyptian employee deals with Egyptians. Of course, I do not have to explain to you how Egyptian employees function in Egypt. This shows how the government is unable to manage our current economic crisis successfully, since it uses the routine way of thinking adopted by Egyptian employees, mixed with the mentality of day-to-day labourers and breadwinners. This mix hinders the development of the country.

Through the use of popular media, the government is trying to convince us of its famous trends that imply we are walking down the right path, depending on some reports by international bodies that we will be absolutely great by 2030. We are living a dark comedy. The Egyptian government has a booming economy in its own fantasy; however, Egyptians have a dying economy, substandard educational and health services, and other problems.

We need to be honest with ourselves. The volume of foreign and local debt has reached terrifying historic levels, with foreign debts reaching more than $60bn. Locally, debts have reached more than EGP 2.3tn; hence, projects are not the result of surplus in the national income or a real tangible effort made by the state.