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Egypt

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Looking at Egypt from a purely objectified and absolute point of view, it is clear and easy to identify that Egypt's current economy is very very weak. Tourism was a main source of Egypt's economy. The political instability that has been occurring over the last 5 years has taken it's toll on the economy. Due to the violence occurring, Egypt's profits from tourism have lowered greatly. In 2011, tourism took a sharp hit due to the economic uprisings. Just as it began to recover in July and August, more violence occurred leading hotel occupancies to hit an all-time low. This is not to say that Egypt's economy was ever in a good position. Before any of the uprising's occurred, Egypt's economy only grew about 7% which barely allowed them to sustain the youth that entered into the job market. Furthermore, due to lack of resources and the lack of revenue from tourism, the Egyptian government cannot direct their resources towards investments. Inflation is currently at 9.3% which is up 6.5% from last year. A high inflation rate can devalue money as well as affect trade as producers and consumers constantly need to reevaluate the price of a good. Egypt's unemployment rate has continued to rise and currently stands at a staggering 13.3%. Gross domestic product or GDP is generally used in order to indicate the current state of health of a country's economy. GDP is often calculated by adding up all the incomes of citizens which also is known as “the income approach”. In 2012, Egypt GDP was valued at 257.3 billion

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