Egypt Reopens Slowly To Revive Pandemic-hit Economy

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Egypt Reopens Slowly To Revive Pandemic-hit Economy

This picture taken on April 24, 2020 shows a view of Bab el-Louk square, one of the generally busy areas near the Egyptian capital Cairo’s Tahrir Square in the central downtown district, almost empty on the first Friday of the Muslim holy month of Ramadan due to the COVID-19 coronavirus pandemic. Mohamed el-Shahed / AFP.Egypt’s economy had just started to recover after years of political turmoil and militant attacks when the coronavirus crisis hit, impacting especially its vital tourism sector.

“Twenty-five percent of the workforce is in agriculture, which remains unaffected,” said Angus Blair, a business professor at the American University in Cairo. “The large informal sector, while finding conditions slower, will continue to function,” predicted Blair.The challenge is huge for Egypt, where nearly a third of people live below the poverty line, many more face precarious conditions and social order has traditionally been maintained by a strict military apparatus.

This included payments of 500 pounds a month to informal workers who lack any social insurance to fall back on. On Sunday, the government announced that hotels may start operating again for domestic tourists, provided they stick to a limit of 25 percent of capacity until the end of May.

 

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