Cairo's Long Summer

by Ben Rose
published in MER142

The current situation in Egypt has great potential for disaster. On the economic front, the government threatens to eliminate subsidies on food and other basic consumer commodities in order to reduce its current budget deficit of about $4 billion. The subsidies are currently costing $3.8 billion -- $1.5 billion for food and $2.3 billion for fuels -- and represent the largest single item in the $11.3 billion government budget.

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