(WSJ) The Muslim Brotherhood Looks West in Bid to Revive Egyptian Economy

Posted by Kendall Harmon

Hard reality is steering...[a] transformation. Confronted with a badly sinking economy, the Brotherhood doesn't have the luxury of harping endlessly about Zionist conspiracies, American hypocrisy, or bikini-clad tourists—not if it wants to put Egypt back together again.

Tourism revenue dropped by at least one-third since the uprising, according to government statistics. And billions of dollars of annual foreign investment—which peaked at $13.7 billion in 2007—were almost entirely choked off.

"Egypt is running smack into an economic wall," said Karim Sadek, a managing director at Citadel Capital, a Cairo-based private-equity firm.

Read it all.

Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyPolitics in General* International News & CommentaryMiddle EastEgypt* Religion News & CommentaryOther FaithsIslam

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Posted February 19, 2012 at 2:50 pm [Printer Friendly] [Print w/ comments]
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