Egypt chose a looser lockdown. Its economy is still in crisis

never much chance of social distancing in Cairo, a city more populous than most countries. Buses fill to overflowing, passengers dangling out of open doors. Millions live in informal settlements with streets barely wide enough for a sedan. And indeed, unlike many other Arab countries, Egypt did not try to impose a strict lockdown. There is a night-time curfew; busy spaces like restaurants and cafés are shut.

First to suffer was tourism, which employs one in ten Egyptians. Last year foreign visitors brought in $13bn, about 5% of. With airports closed since March, revenue is now zero. The national carrier, Egyptair, had hoped to resume international flights in June, but the government has extended the closure indefinitely. Desperate to snag some cash, hotels have started to reopen for domestic tourists, but they spend a lot less than foreigners.

Foreign reserves, which plunged after the revolution in 2011, had recovered to a comfortable $45bn in February. They are now dropping again, to $37bn at the end of April, as the state covers loan repayments and portfolio outflows. Fitch, a ratings agency, thinks they will hit $31bn this year. It sees the current-account deficit widening to 5.3% ofBankers estimate that Egypt will need at least $10bn in external financing.

Well the American economy is on life support and close to cardiac arrest.

With volumes down, would it have made economical sense for Egypt to lower the fees they charge?

So, the same as last month and last year? Smh

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Will this help tickets to mars?

Lol

NaguibSawiris

Вы открыли мне глаза

Haha nothing works for us in Egypt. Sucker anyways. Guess the problem we don't what's appropriate for us but try to apply others countries' strategies in the Egyptian situation which is so different.

Could be First Country Saled for One Dollar ( doesn’t matter currency)

To make a lockdown in Egypt is absolut impossible.

The government is just winging it. There is no plan to minimize the economic damage. We don't have a full lockdown because most people won't follow it

Sure, covid19 is a first world virus. And it only exists in our heads

Egypt is ‘spared’ Covid-19 because it’s not testing for community transmission. Thailand and Japan too. Too many tourist-reliant countries are playing this game. Don’t test, don’t tell. And MSM just blindly accept it. Brazil tried that for a while - and look at that sh!tshow now

ArabMoney TheSandsofTime Cuso Llamas on JayZ S_C did say in bars He gonna buy the whole hood llamas on him ltmq

lovefromindia 🇮🇳🙏

the dead pharoah's were on to something when they built those pyramid's - did we try doing that to ward off disease in the west

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