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Egypt in the global economy : strategic choices for savings, investments, and long-term growth (Inglês)

This report is the third in a series of World Bank Middle East and North Africa Economic Studies. The present study is devoted to Egypt, summarizing its recent economic progress, highlighting key opportunities and challenges currently facing its government and people, and outlining a strategy for securing its future prosperity. Following dynamic economic growth in the decade beginning in 1975, Egypt was hit hard by the oil price slump of the mid-1980's. In recent years however, thanks to the strong stabilization and reform policies implemented by the government since 1991, the economy has staged a remarkable recovery. But substantial challenges still remain. Poverty and unemployment remain serious problems, and the labor force is expected to grow by nearly 3 percent a year over the next ten years. Meeting young Egyptians' aspirations for a decent livelihood is an economic and socio-political imperative, requiring substantial and sustained job creation over the coming years. The strategy described in this report is designed to help Egypt meet these challenges. On the external front, it emphasizes reforming the trade regime, boosting exports, and entering into a partnership agreement with the European Union. On the domestic front, it outlines a set of policies to ensure that macroeconomic stability is maintained and a range of structural reforms to promote higher savings and productive investment upon which rapid growth must depend.

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