https://padlet.com/ichew/bbb4mb_floatcauses List one and explain in one or two sentences. en-us 2016-11-27 09:34:07 UTC 2025-11-01 22:02:19 UTC hello@padlet.com https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009084 We are here today, where we are, because we have a very negative trade of balance, we buy everything from other countries, and we export to them less. The trade balance does not have to be very positive, it should be stable. "Egypt is the 62nd largest export economy in the world and the 71st most complex economy according to the Economic Complexity Index. Egypt exported $33.2B and imported $82.4B, resulting in a negative trade balance of $49.2B." 
In order to end this crisis, we need to start importing the essential products that we need, and import less the things we can live without. 
More than 30% of Egypt's income  used to come from tourism, until some terrorist attacks took place and our tourists from Russia, Germany and France stopped visiting us, they even stopped some airlines which caused a big  effect on us. 
The new president "Sisi", used the country's money in unimportant projects which also led us quickly to this crisis. He put so much money in the new project which is building a new capital city in 20 years. So he is thinking about the future which is right, but he forgot to think about the present. ]]> 2016-11-27 10:36:14 UTC https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009084 https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009095 The main reason behind the pharmacy crisis is of course is the dollar crisis in Egypt since, it is the reasons for all the crisis that Egypt is facing nowadays. We as Egyptians lost 65% of the value of our money just in the matter of days. We can stop talking about what happened because probably what is coming is even worse. The floating of the Egyptian pound will cause a lot more conflicts in the future than the conflicts that it already caused. So, i will just give one of the things that will happen, there will be a bigger gap between the rich and the poor. Egypt is already known for the great gap between both the rich and the poor. So, imagine that gap became bigger? That means that the collapse that happened will lead to a large increase in inflation, which means an increase in the unequal distribution of wealth among it's people. Yet, wealthy people who keep their money in the foreign currency will see their financial assets or money will increase while the poor will become poorer and the middle class will fall under the poverty line. Overall, the floating of the Egyptian pound is only a desperate attempt to ]]> 2016-11-27 10:36:26 UTC https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009095 MariamAbdallah https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009102 The crises started because Egypt is a country that only import we don't export at all. due to the lack of exports we dont get other currencies hear in Egypt. But even when we didn't import before we didn't have these crises but after the revolution all of the international business men are afraid to come and invest their money in Egypt. Even though we never exported but we had international business in our currencies so we had other currencies in our country. But after the revolution all of the international business men took their investments from Egypt. ]]> 2016-11-27 10:36:38 UTC https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009102 https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009116 The main reason behind this pharmacy crisis is the dollar crisis. Egypt has been running desperately short of foreign currency. This makes it hard to sustain the economy, which relies on buying goods from abroad. Basically, Egypt buys more than it sells. Egypt is now suffering from inflation. The prices of many products are getting extremely high. For example, medicine is now very expensive. Many people cannot afford buying the medicine they need as more than 40% of Egyptians are below the poverty line. ]]> 2016-11-27 10:37:01 UTC https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009116 https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009119 The insane increase of the exchange rate of the american dollar due to black markets. the black market use to control more than 70% of the dollars in Egypt. the reason the prices have boo so high is because Egypt printed and created a lot of coins and paper bills without having the equivalent amount for it. SISI kept printing and creating because he though the "Suez canal project" will success and he risked a lot of money for it. since this project have failed and thats why they couldn't pay back the money or afford anything in return. ]]> 2016-11-27 10:37:04 UTC https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009119 feadboys https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009150 Multiple factors have been contributing in the float that is currently happening. One of them is that Egypt has maintained the dollar price without an actual equivalent. On the other hand countries like Kuwait, have had an equivalence (Gold in Kuwait). However, back then, Hosni has maintained relations to avoid the dollar exchange rate from rising. In addition, the country has also lost a huge amount of dollars as foreign investors and tourism has taken a huge shot. As well as many projects in Egypt were ordered to be done affecting where the money went.  ]]> 2016-11-27 10:37:45 UTC https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009150 https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009226 The Arab Spring revolutions created an unstable region that has created in Egypt a future of uncertainty. The 2011 revolution followed by the ousting of Morsi a year later has created an unstable economy that has scared away all the investors AND tourists leaving the economy in shambles. This lack of money from the outside world is further complicated by the fact that Egypt is heavily dependent on Imports. The combination of these issues has created a dire situation that required the government to float the Egyptian Pound.]]> 2016-11-27 10:39:05 UTC https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009226 https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009288 The main reason behind this pharmacy crisis is the rapid increase rate of the dollar. This happens when the country has a negative terms of trade. which means that the country has more imports than exports, that is Egypt's problem. This crisis has happened ever since Abdul-Fattah Al Sisi took over, because before he was president, the currency rate of the dollar was 6 pounds per dollar, but now that he is the president the rate has increased to 18 pounds per dollar. Also this has happened because people are now using the black market price rather than the bank price. This can be solved if people start using the bank price rather than the black market pric]]> 2016-11-27 10:40:43 UTC https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009288 https://padlet.com/ichew/bbb4mb_floatcauses/wish/140009476 The inflation has effected all the aspects of the country, especially on the short term, Egypt is currently getting ripped off, because the culture of the powered substance is very hard to change, after abdelnasser has maintained the idea of powering the substances.
the idea of changing the fact of the relaying on the country to serve very expensive resources with cheap prices without having any type of taxing or tarrif for the people to pay to benefit from the products and services. Another thing is that the major projects Egypt is participating in is contradicting with how the administration is doing. Another thing is the cultural idea of spending and how to spend the money, rather than finding a way to create any kind of profits

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