A new report from the Congressional Research Service assesses the economic state of post-revolution Egypt and finds it fairly grim.
“After more than two years of social unrest and economic stagnation following the 2011 popular uprising, the government of Egypt is facing serious economic pressures that, if not remedied, could lead to economic collapse and possibly new levels of violence,” the report says.
“Egyptian authorities and the International Monetary Fund (IMF) have been in negotiations for more than two years over an IMF loan to Egypt in exchange for policy reforms that, if successful, could stave off economic collapse and create more ‘inclusive’ growth…. [but] No agreement has been finalized or implemented to date. Egyptian authorities have been reluctant to commit to economic reforms that may be politically unpopular and increase the country’s debt.”
Background on the negotiations and on U.S. aid to Egypt are presented in Egypt and the IMF: Overview and Issues for Congress, April 29, 2013.
Some other CRS reports on Middle Eastern countries that have been recently updated include the following.
Iraq: Politics, Governance, and Human Rights, April 26, 2013
Iran Sanctions, April 24, 2013
U.S. Foreign Aid to Israel, April 11, 2013
Iran: U.S. Concerns and Policy Responses, April 4, 2013
Jordan: Background and U.S. Relations, April 1, 2013
Despite the uphill battle the country is facing, Dr. Schlaerth feels optimistic about the future possibilities of industrial decarbonization.
A supply-side tax credit (STC) could offer a tax incentive to material suppliers and professional service consultants that provide goods or services to affordable housing projects.
The Department of Housing and Urban Development (HUD), Department of Commerce, and Department of Transportation should jointly develop and manage a data resource—a Housing Production Dashboard—to track housing production within and across states.
Exempting affordable housing from volume caps would address the underlying issue and have the greatest impact in this housing emergency.