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Middle East

Egypt economy sputters in democratic era

Currency sinks and government warns of tax hikes as nation endures onslaught of fiscal woes.
Last Modified: 05 Jan 2013 07:05

Egypt staged a successful uprising against the regime of former president Husni Mubarak and has held presidential elections.

But the move towards fledgling democracy has not been accompanied by an economic boom.

Instead, Egyptians have endured one financial crisis after another.

The currency has plummeted and the government is threatening tax rises and spending cuts.

Al Jazeera’s Rawya Rageh has the story from Damietta in Egypt.

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Source:
Al Jazeera
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