The Egyptian military’s involvement in the economy has come at a high cost, contributing to underperformance in development and auguring a new ruling class of military officers.
Armed forces in power and in business will be hard-pressed to implement the complex and painful economic reforms needed to stimulate growth.
The Egyptian military’s involvement in the economy has come at a high cost, contributing to underperformance in development.
President Abdel Fattah el-Sisi has reinvigorated state capitalism in Egypt through military-led real estate development, industrial hubs, extractive activities, private sector encroachment, and using private investment to recapitalize the public sector.
The successful completion of Egypt’s 2016 IMF program is superficial, hiding poor economic growth relative to emerging market peers and an economy burdened by a military-led public sector.
The Egyptian military’s capture of state resources under President Abdel Fattah el-Sisi depends on a poorly run state and the visible corruption of the former regime, auguring a new ruling class of military officers.
Lebanon’s ad hoc approach to its myriad economic shocks will leave scars that are long-lasting.
If Hezbollah seeks a change in the country’s political system, its weapons will not help it to do so.
Although Wall Street would be ferociously opposed to policies that limit the unfettered flow of capital around the world, the right polices could sharply reduce the economic disruption wreaked on workers, producers, farmers, and the middle class.
In an interview, Kawthar Dara discusses how regional disparities have added to Lebanon’s fragility.