Egypt Secures Billions in Gulf Aid But Economic Uncertainty Remains

Egypt signed a $35 billion deal with the UAE to develop a large plot of land into a new city, helping Egypt avoid economic crisis in the short term.

The deal gives the UAE political leverage over Egypt's government and president Sisi, though profits from the development may take time to materialize.

Egypt secured over $50 billion in aid and investments to address its debt crisis, but questions remain about its commitment to economic reforms.

Inflation in Egypt hit record highs in 2022 and remains elevated, putting strain on ordinary Egyptians even as the government declares the crisis over.

While Egypt's fiscal reckoning has been delayed, its debts have grown and the underlying issues with its economy and deficit have not been resolved.