Egypt is a republic in northeastern area of Africa it was...

Egypt is a republic in northeastern area of Africa; it was known as the United Arab Republic until 1971. Egypt is an ancient civilization that grew from 2600 to 30 BC. Egypts economic range includes involvement with mainly tourism, construction and manufacturing. Currently, Egypt’s economy is not doing well. Because of the revolution in 2011, the Egyptian economy has gone from bad to worse. The country’s unemployment is still increasing which is causing the budget deficit. Job creation is virtually impossible, and the Egyptian pound has lost majority of its value. To make problems worse, the general lack of security in the country has increased. All of these issues have a negative effect on the country. For example, the soaring†¦show more content†¦Moreover, the unemployment also increases because of the revolution due to many employees going on strike and not working. From February 11, 2011 to February 11, 2013, the unemployment rate has increase by 1.4% (Cent ral Bank of Egypt.) At this rate the country’s unemployment will just keep decreasing if something is not done. Currently, Egypt’s economic has been taking a number of harmful tolls from many different factors. For example, underground dollar trade and political instability has been reported to effect Egypt’s economic in a negative way. The underground dollar trade causes a negative effect because According to Middle East Online website, â€Å"money is sought on Cairos black market and currency traders at banks say they havent been able to meet their clients demand through official channels.† This makes it difficult for people to get the proper loan they may need to get a home or car. The black markets are worsening the economy. This has been a problem in the past when Egypt was struck with a thriving black market during economic insecurity in 2003. Black markets are affecting the banks of Egypt. Banks are forced to trade dollars in fixed ranges around th e central banks sale cut-off prices for interbank, commercial and retail transactions, giving rights sizable encouragement over authorized exchange charges. Although Egyptian President Hosni Mubarak stepped down, Egypt’sShow MoreRelatedEssay about The Kingdom of Nubia: Modern Day Sudan939 Words   |  4 PagesSudan, in ancient times was the kingdom of Nubia. Nubia was Egyptian, ruled around 2600 B.C. Sudan has had quite a diverse and interesting past shaping the country to what we now call Sudan. From the civil, war of the National Islamic Front and the People’s Liberation Army to the discovery of oil. Southern and Northern Sudan is rich in history, culture, and population diversity. I picked Sudan to learn more about my friends, and to put meaning to what they went through as United State refugees. 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