Home / Business / Accident or terrorism, jet crash to set back Egyptian economic recovery

Accident or terrorism, jet crash to set back Egyptian economic recovery

Whether caused by terrorism or mechanical failure, the crash of an EgyptAir jet into the Mediterranean is the latest blow to Egypt’s efforts to rebuild its economy after five years of political turmoil.
The 2011 revolution, the unrest that followed, and the downing of a Russian airliner last year sapped life from the economy and what was once one of the most promising and fastest-growing tourism markets in the region. The loss of Flight MS804 came as President Abdel-Fattah el-Sissi aims to project an image of authority and security to revive growth. Egyptian shares fell as much as 2.1 percent on Thursday.
“The worst case scenario for public opinion inside and outside Egypt would be if the accident was caused by incompetency of Egyptian staff at a time when the government is trying to present a picture of itself as disciplined and competent,” said Gamal Abdel Gawad, political science professor at the American University in Cairo.

Read more at Chicagotribune

About Amora

If your Content posted here, in our youtube, twitter and Facebook pages and you want us to modify or remove it, please email us using the contact form in our site. Thanks.

Check Also

Egypt warns Ethiopia Nile dam dispute is life or death -El-Sissi

El-Sissi sought to reassure Egyptians in televised comments while attending the inauguration a fish farm in the Nile Delta province of Kafr el-Sheikh, but stressed that “water is a matter of life or death.” “No one can touch Egypt’s share of water,” he said.

Qatar, Ethiopia sign pact on investment protection

Qatar and Ethiopia have finalised and signed an investment protection agreement on Tuesday, according to HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani.

Leave a Reply

Your email address will not be published. Required fields are marked *