What’s happening?
Fears are growing over the slow-motion collapse of Egypt’s economy, and the possible knock-on effects on the Middle East and wider region, including Europe. For decades, Egypt has been a chronic underperformer, with a sclerotic economy dominated by state interests – in particular by those of the country’s all-powerful military. But in recent years things have taken a sharp turn for the worse. President Abdel Fattah al-Sisi, the ex-general who took power in a 2013 coup and assumed the presidency the following year, has proved a disastrous economic manager. Rather than dismantle the military’s long-standing chokehold over the economy,
