Egypt and the economic crisis

 2008 was one of the worst years that the world has witnessed economically, we've seen banks shut down, old and popular firms like woolworth's collapse, some countries have suffered -and still are- from an economic slowdown while others have already entered a recession. You may have read about all of these stories before and then wondered, is the economic crisis going to affect Egypt? The answer is yes, but don't worry it won't his us as hard as it hit the rest of the world

 Egypt is part of this world, we trade with other countries, we import and export. Therefore it's no wonder that we're going to be affected, but thank god our banks have enough liquidity to finance the various projects and have the ability to attract different investors. The crisis, never the less, will leave an impact on the income generated from the suez canal as a result of the decreased demand on importing affecting the trading process between countries. Moreover, Egypt's growth rate is expected to go down this year, the economic group's biggest challenge will be keeping this rate of decline to a minimum

 the government has already come up with a 15 billion Egyptian pounds bail out plan, which will be dedicated to three main areas, infrastracture, production & exports and investment in order to trigger the economy and fight the global economic slowdon.

   With such a bail out plan and multiple visits carried out by the the prime minister, the minister of trade and industry and the minister of investment to countries including Russia, Malaysia and England, I believe that Egypt is hopefully going to survive this crisis, but the main issue is the fact that if you're a teenager then you need to know about such a crisis. This is because in some way it can affect your future as you may not be able to find a job vacancy that easy, maybe because some firms will have been recovering from such a crisis by then and won't be able to recruite. Growth rates are going down which will certainly leave an impact on your daily life from the quality of public services offered to food prices (although it's believed that such a crisis will lead to a decrease in prices of various products but with the decrease in growth rates, it's definitely a matter of time till things get clearer).