The good and bad of Egypt's economy

A bread seller walking past a banner featuring President Abdel Fattah el-Sisi. Egypt has seen a significant hike in inflation and a decline in purchasing power and living standards.
A bread seller walking past a banner featuring President Abdel Fattah el-Sisi. Egypt has seen a significant hike in inflation and a decline in purchasing power and living standards.PHOTO: REUTERS

Growth is high but many Egyptians have yet to reap the fruits of economic recovery

If the Great Sphinx of Giza still had a nose, it would thumb it at its detractors. The expression on Egypt's most enduring historical representation suggests it has endured the sternest of examinations.

Its ability to endure could be compared to the Egyptian economy, battered by years of turmoil and uncertainty. Yet it constantly fights back.

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A version of this article appeared in the print edition of The Straits Times on September 06, 2018, with the headline 'The good and bad of Egypt's economy'. Print Edition | Subscribe