Egypt marks 12th anniversary of the 2011 revolution

Today marks the 12th anniversary of the 2011 Egyptian Revolution, which saw the overthrow of former President Hosni Mubarak after 30 years in power.

The revolution, which began on January 25th, was sparked by widespread anger at poverty, corruption, and police brutality, and was fueled by the use of social media to organize protests.

The revolution brought about significant changes in Egypt's political landscape and economy.

In the immediate aftermath of the revolution, there was a brief period of political and economic instability.

The stock market, for example, saw a sharp decline in the days following Mubarak's ouster.

However, this instability was short-lived, and by the end of 2011, the Egyptian Stock Exchange had recovered much of its value.

In the years since the revolution, Egypt's economy has grown at a steady pace. In 2020, the country's GDP stood at $334 billion, an increase of nearly 50% from 2011. The country's GDP per capita, which was $2,700 in 2011, had also grown to $3,600 by 2020.

However, the revolution also brought about significant economic challenges. Inflation, for example, has remained stubbornly high in the years since the revolution, and reached a peak of around 30% in 2017. The unemployment rate, which was around 9% in 2011, had also risen to around 12% by 2020.

Despite these challenges, the Egyptian government has made a number of efforts to improve the country's economic prospects. The government has implemented a number of economic reforms, such as the devaluation of the Egyptian pound, the liberalization of the exchange rate, and the implementation of a value-added tax. These measures have helped to improve the country's balance of payments and have attracted foreign investment.

In addition, the government has also made significant investments in infrastructure, particularly in the transportation and energy sectors. For example, the government is currently building a new administrative capital, which is expected to generate economic growth and create jobs.

Overall, the 12th anniversary of the Egyptian Revolution serves as a reminder of the significant changes that have occurred in the country over the past 12 years. While there have been economic challenges, the country has also seen significant growth and development. As Egypt continues to move forward, it will be important for the government to continue to address the economic challenges and to continue to implement policies that will promote growth and development in the years to come.