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Wednesday, 15 March 2017

When it comes to the economy, not all statements and indicators are equal

Don’t break out “the dance of joy” every time Egypt gets a positive mention in the global press, Al Shorouk editor-in-chief Emad El Din Hussein writes. A statement (be it positive or negative) coming from entities such as Moody’s or the World Bank should be recognized as far more important than something in an obscure media outlet. Ziad Bahaa El Din largely echoes Hussein’s basic argument, saying that looking at short-term growth indicators is not sufficient, and that more attention should instead be directed towards evaluating sustainable development and living conditions. Bahaa El Din points out that Egypt’s economy has seen significant growth over the past 40 years, particularly during the last five years of Hosni Mubarak’s rule, but that this growth did not translate into improved living conditions because there was no social development happening in tandem.

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