The 2009 global financial crisis has now reached the Middle East, and Egypt’s economy will not escape. With more than 30 percent of Egypt’s government revenue tied to oil prices and global trade, and the majority of Egyptians living on less than US$2 per day, Egypt’s economy will likely be under pressure. Nonetheless, looking beyond the current crisis, Egypt will benefit from maintaining the economic liberalization and reform policies that helped propel the economy, as they will help foster sustained growth as the inevitable global economic upturn materializes.

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