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World Bank, Washington, DC
Middle East and North Africa | Egypt, Arab Republic of
2013-10-15T21:07:09Z | 2013-10-15T21:07:09Z | 2012-09

The January 25th revolution is an enormously important political event for Egypt, but attention to its economic consequences is also vital. The Egyptian revolution reflected a popular movement in favor of dramatic changes in the way citizens were governed and the way resources and opportunities were distributed in society. Expectations were extremely high, especially among the youth, for a new era of a more responsive government and an economy that offered employment, more inclusive growth and stability. Prior to the revolution, Egypt had high unemployment rates. The unemployment rate for 15 to 24-year-olds in particular was estimated at 33 percent. It also points to the need for improved competition in financial services, and competitive forces more generally, to address the needs of fast-growing Small and Medium Enterprises (SMEs).


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