Home The Buzz It’s the economy, stupid

It’s the economy, stupid

by Tamara Rasamny

After overthrowing the dictator Hosni Mubarak in 2011, the hopeful Egyptian people held their first democratic elections — eventually leading to Muslim Brotherhood-backed Mohammed Morsi becoming president.

But now, one year after taking over, he faces an ongoing uprising against his rule, with the military setting him an ultimatum to reach a deal with the protesters.

Much of the reason for his historic unpopularity has been Morsi's inability to improve the economy. GDP growth has remained at a disappointing two percent and most other indices are going the wrong way — unemployment has risen, as has debt, while foreign reserves have collapsed. Meanwhile the government has been negotiating an International Monetary Fund loan — which could provide the country with much needed boost — for over a year.

Click here or on the graph below for the interactive guide to Morsi's economic record.

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