Inflacija 40%, rast cijena hrane 70% na godišnjoj razini, prezaduženi, mora ih spašavati MMF
https://foreignpolicy.com/2023/08/09/egypt-economy-debt-imf-sisi-mega-projects/Citat:
The president has gone on a debt-fueled spending spree on mega-projects for which there are few economic justifications. The mightiest and most obscene of them is the New Administrative Capital, which is just in its first phase and so far has cost over $45 billion. When the United Arab Emirates and China pulled out of the project, Egyptians were forced to foot the bill by adding massive amounts of debt to the country’s balance sheet.
In addition to building a new capital lock, stock, and barrel in the middle of the desert, Sisi is overseeing a bevy of other large projects. Notable among them is a new “summer capital” on the north coast, a nuclear power plant (in a country with excess electricity), a sustainable city in the Nile delta, and the revival of a failed Mubarak-era mega-project in upper Egypt called Toshka. This comes after the opening of a Suez Canal bypass—billed as the “New Suez Canal”—in 2015.
Most of these projects are of dubious economic value but are (or were) politically important. They were meant to be tangible demonstrations of Egypt’s rebirth under the steady hand of its new military officer-turned-president and his colleagues at the Ministry of Defense. The message may have been that Egypt can still do great things, but these mega-projects have become unsustainable economic burdens on the country.
