Egypt, Arab Republic of
During her recent visit to Cairo, the World Bank's Vice President for the Middle East and North Africa Region Inger Andersen reiterated the Bank's support for an inclusive economy in Egypt that enables all citizens to take part in shaping their future.
Egyptian policymakers are facing a significant challenge: how to address acute economic challenges while managing ongoing political and social transitions. Output in major sectors of the economy (construction, trade, and tourism) remain weak while foreign direct investment (FDI), once a core tenant of Egyptian growth, reached nearly zero in the second quarter of this year. The Egyptian unemployment rate, which traditionally hovered around 9.5 percent in the years preceding the revolution, has increased to 13.2 percent in the first quarter of 2013.
Egyptian writer and commentator Bassem Sabry talks to Hartwig Schafer, World Bank Director for Djibouti, Egypt and Yemen about the economic challenges facing Cairo.
Sabry: What do you think are the questions that are missing from the discussion on Egypt right now?
Schafer: I think the question is, what is the priority right now for Egypt? If we go back two and a half years, the revolution was basically the result of growing exclusion and inequality. And that is still, in my view, the top priority.
The Middle East and North Africa region is on the front lines of climate change. According to the World Bank report Turn Down the Heat: Why a 4 ͦ C Warmer World Must be Avoided (WB, 2012), the region is steadily getting hotter and drier. Of the 19 countries that set new national temperature highs in 2010, the warmest year globally since records were first kept in the 1800s, five were Arab states.
This week’s mass demonstrations in Egypt and assassination of an opposition leader in Tunisia -- not to mention the continuing conflict in Syria -- highlight the turmoil and uncertainty facing many countries in the Middle East and North Africa.To track the effects of these and other developments on the economy, the MENA Quarterly Economic Brief provides a real-time review, using high-frequency data, of five countries that are at risk of sluggish economic growth in 2013.
Whether constructing a new bridge or buying textbooks for a public school, governments around the world constantly purchase a wide variety of goods and services. In the countries of the Middle East and North Africa, these types of public contracts represent between 15 percent and 20 percent of GDP each year, an annual amount equal to tens of billions of US dollars.
More than two years after Egypt's populist revolution in which men, women and people from all across the social and age spectrum revolted to put an end to the 30 year old regime of Mubarak under the motto "bread, freedom, social justice" it is worth examining what this social and political upheaval has meant for the status of women in Egypt.
I am a business woman, an entrepreneur from the Middle East and North Africa (MENA) region. I managed to start and grow two companies and a nonprofit in my lifetime. Does this show gender equality? I was neither welcome nor unwelcome by men into this field of work but I believed in something and made it happen. Can such an attitude contribute to changing the reality for women?
After going through the World Bank’s comprehensive study on gender in the Middle East and North Africa (MENA) region, I have to say that gender equality took on a new dimension in my mind. This study covered all facets of gender equality – or inequality – depending on which part of the cup you are looking at, the half full or the half empty.
In a country like Egypt which faces a host of political and economic challenges, innovative solutions are very much in demand. The good news is that there is a wave of innovation and entrepreneurship spreading across the Arab world. The bad news is that micro and small enterprises -- mostly working in low-tech industries -- in Egypt are not getting the support they need to be part of this wave.