Egypt is attempting to transition its government from an authoritarian system to a democratic one. The country is moving forward with a road map that aims to utilize the objectives of the 2011 uprising, but high unemployment, high prices, and a large population of young graduates looking for jobs will continue to present challenges. From June 25th, 2011 until June 30th, 2013, Egypt’s economy slowed almost to a standstill.
Political instability has plagued the nation, stagnating growth and driving away foreign investors. Foreign direct investment has declined from 6.8 billion dollars in 2010 to 2.2 billion dollars in 2012. Massive demonstrations took almost one-third of the population to the streets again on June 30th, 2013, and led to the new regime’s ouster. A caretaker government has taken over since then. Its plan includes introducing several reforms such as anti-trust, conflict of interest and land procurement legislations. Projections for 2014 are fairly optimistic and many believe that Egypt is back on the right track, while acknowledging the multiple challenges ahead.