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Egypt Response to the Global Crises
1. Background
During the past few years, the Egyptian economy has seen the culmination of more than 15 years of relentless reform efforts. The reform program dates back to the 1990s when Egypt embarked on an Economic Reform and Structural Adjustment program (ERSAP) aimed at stabilizing the economy and promoting economic growth. The program has helped a noticeable improvement in several economic fundamentals including the increase in growth to 5.9% in 1999/2000 compared to 1.9% in 1991/92. On the backdrop of several external and domestic shocks, the reforms were interrupted, however resuming strongly since 2004 giving birth to a new trajectory of sustained and better diversified growth in the Egyptian economy.[...]
During the past few years, the Egyptian economy has seen the culmination of more than 15 years of relentless reform efforts. The reform program dates back to the 1990s when Egypt embarked on an Economic Reform and Structural Adjustment program (ERSAP) aimed at stabilizing the economy and promoting economic growth. The program has helped a noticeable improvement in several economic fundamentals including the increase in growth to 5.9% in 1999/2000 compared to 1.9% in 1991/92. On the backdrop of several external and domestic shocks, the reforms were interrupted, however resuming strongly since 2004 giving birth to a new trajectory of sustained and better diversified growth in the Egyptian economy.[...]