The report describes the success stories of Sawiris, Sewedy, Mansour, Sharbatly and several others. Approximately 8 billion $ is lost every year in greater Cairo due to the traffic congestion and this represents 3. Earlier this year, Hartwig Schafe, the World Bank’s director for Egypt, suggested similar solutions in a post for Ahram Online. Following are some causes of the expansion of informal economy in Egypt: a- Bureaucracy, which has become a characteristic of all government institutions in Egypt. Under a pessimistic scenario, the country’s economy saw an estimated contraction of 2.1% in 2020, to be followed by 7.5% growth in 2021. The informal economy is defined as all economic activities (including barter of goods and services, mutual self-help, odd jobs, street trading, and other such direct sale activities) carried out by individuals and / or institutions outside state controlled or money-based transactions. Because Egypt is such a hot, sandy place, infections were quite common from all the dirt and sand entering the eyes and lungs. The economy is at risk. Water quality management in Egypt. But, when this activity is integrated into the umbrella of the formal economy, managers cannot easily abuse their workers. Finding a solution for Egypt’s water crisis Egypt depends on Nile flow to provide about 97% of its present water needs Mohammed El-Said September 29, 2018 Be the first to comment When the government does not have accurate data on the size of economic activities because of the expansion of the informal economy, this leads to speculation, which may produce incorrect results and therefore make erroneous decisions leading to the failure of any efforts targeting achievement of economic reform. Because Egypt's economic crisis has political roots, international donors cannot save the country by themselves. The informal economy can be used to finance any suspicious activity, away from the government control. 9- Opening up new markets for the marketing the informal sector products. To achieve this goal, five-year tax breaks as well other incentives have been declared by government officials more than once during this period. Manshiet El Nuba at Toud district declared as Virus-C free Workers at this sector are not subject to any social security system. Your email address will not be published. Indicators show that: - Poverty rates currently stand at 70%; - Economic growth has dropped to between 1% and 2%; The economy is at risk. The new exchange aims at shrinking the circle of commodity trading from the source to the consumer, and saving the transportation cost. The most important policies taken by the Egyptian administration in integrating the informal economy can be reviewed through the following points: – In December 2015, a presidential decree was issued to form a higher committee for national database clean-up. AQUASTAT. 8- Rehabilitation and training of workers of the informal sector. Food Shortages A food shortage is a lack of food or difficulties in food distribution *It is a problem because traders and suppliers are smuggling and hording goods (900 tons of sugar was stolen)/shortage of water cause less irrigation on crops and the prices for food are rising 2- Making comprehensive legislative reforms. copyright received ©2021 Egyptian Institute for Studies. A short sentence which ultimately describes the unprecedented decline of economic conditions in Egypt. FAO, 2014. The Arab Republic of Egypt or \"Egypt\" for short, is one of the most historically rich countries in the world. At this sensitive time, the informal economy has been a strong supporter of the Egyptian economy, providing job opportunities and additional incomes for low-income people, such as teachers and civil servants. Any economic activity aims at achieving profits, where successful cost-cutting brings about an increase in revenues and, accordingly, in profits. However, in 2018, Egypt ranked 105 out of 180 countries. “With any problem, you must address the cause of the issue, and not just the symptoms themselves,” states Shehayeb. Required fields are marked *. This percentage is indeed extremely large. Phone: +90 (212) 227 22 62 Email: [email protected]. Real estate, rentals, sales of property to foreign companies and individuals, such as offices, lands, appartments, villas and investment property. More from Egypt State Information Service - SIS, Eissa: More facilities to Egyptian industry in coming period, Egypt, Russia seek enhancing economic relations, Ganzouri expresses need to support firms for boosting production, More on According to the CIA World Factbook, the four most common diseases in Egypt are bacterial diarrhea, typhoid fever, hepatitis A and schistosomiasis.People in the country are at intermediate risk for contracting these illnesses. The Egyptian Monuments: Problems and Solutions - Volume 4 Issue 1 - Zahi Hawass Skip to main content Accessibility help We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Shop Insurance Canada constantly surprised how many people are misinformed when it comes to car insurance. 1- Facilitating business registration procedures. Egyptian Economy: Problems and Solutions. 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