How Egypt's military is dragging down its economy
The Indicator from Planet Money
NPR
4.7 • 9.5K Ratings
🗓️ 15 February 2024
⏱️ 11 minutes
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Transcript
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| 0:00.0 | NPR. |
| 0:04.0 | In the |
| 0:05.0 | In the |
| 0:08.0 | In the Egyptian desert in the Egyptian desert of Cairo, a new mega city is taking shape. |
| 0:16.3 | It's called the new administrative capital, and it's home to Africa's tallest |
| 0:21.3 | building, plus a sports complex and a sprawling presidential palace. |
| 0:25.5 | Massive construction projects like this one are part of Egyptian president Abdel Fata al-C's |
| 0:31.0 | economic vision for the country. But there's a hitch. Egypt can't afford to build |
| 0:36.4 | its lavish new capital. The country is deeply in debt, the local currency has plunged in value, and millions of people have been pushed into poverty. |
| 0:45.9 | Egypt's economy is facing its worst crisis in decades and the problems could |
| 0:50.8 | destabilize the country during a crucial period for the Middle East. |
| 0:56.4 | This is the indicator from Planet Money, I'm Whelan Wong. |
| 0:59.0 | And I'm Darren Woods. |
| 0:59.8 | Today on the show we look at how Egypt's economy fell into crisis and how the international community |
| 1:06.0 | might offer a lifeline to one of the region's most important geopolitical players. |
| 1:15.7 | This message comes from NPR sponsor SAP Concur. |
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| 1:26.7 | across multiple offices. |
| 1:29.5 | Across Europe we have a presence in 17 countries which obviously involved 17 different tax regulations, |
| 1:35.6 | 17 different fiscal authorities, you know, and this makes life complicated for us. |
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... |
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