In November of 2016, the Egyptian Central Bank floated the pound, after the floatation the pound underwent what can only be described as rapid depreciation, whilst inflation rates went through the roof. Today, the economy has managed to reel from the pound’s crash, and the government is trying to move Egypt into a new era of economic prosperity. In a recent speech, President Abdel Fattah El Sisi spoke to the results of Egypt’s economic policy, saying that “The results that have been achieved until now indicate we are on the right path,” which may leave the reader wondering: what is the government doing to elevate economic conditions? What is the ‘right path’? To answer these pressing questions, it is necessary to look towards recent economic policy decisions, as well as the different cabinets President Sisi adopted in both his inaugural term as president, and his renewed term, as well as their respective aims and accomplishments. Sisi’s First Term: new cabinet, new projects In Sisi’s first term in office, he filled two key positions that would ultimately decide the economic direction he would embark on. The first being the Minister of…
