The Underlying Causes of Egypt’s Currency Crisis and its Effects on Economic Growth
DOI:
https://doi.org/10.58916/jhas.v10i4.955الكلمات المفتاحية:
Economic growth، monetary policy، exchange rate، International Monetary Fund، Central Bank of Egyptالملخص
The purpose of this essay is to examine the economic crises that have repeatedly recurred in the Egyptian economy in recent years. These crises continued and recurred, although the solutions were typically short-term rather than drastic. In 2024 the crisis that had existed for years about the exchange rate of the Egyptian pound worsened, which resulted from the insistence on maintaining the currency’s overvaluation strategy by adopting a fixed exchange rate system, and what further exacerbated this crisis is the global economic recession resulting from the outbreak of the Covid-19 pandemic and the resultant global supply chain crisis, not to mention the inflation that resulted from the war in Ukraine since February 2022, and the ongoing war in the Gaza Strip since October 2023.
Using a descriptive analytical approach that better fits the goals of objective scientific investigation, this study aims to fill the gap in the literature on the causes of Egypt's currency crisis by determining whether the factors that contributed to this worsening crisis in the Egyptian economy were endogenous, exogenous, or a combination of both.
التنزيلات
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