economic growth in various ways

economic growth in various ways

Blog Article

No matter how extensive, economic reforms will introduce little unless accompanied by meaningful political reforms. The Economist Intelligence Unit’s 2023 Democracy Index classified the Egyptian regime as “authoritarian” (the Index’s lowest category), ranking it 127th out of 167 countries.28 Authoritarianism stifles economic growth in various ways. For instance, low levels of law enforcement pose a major hurdle to processes of economic transformation. In the 2023 Rule of Law Index, issued by the World Justice Project, Egypt ranked 136th out of 142 countries, receiving the lowest score in the Middle East and North Africa region.29 Respect for human rights and civil liberties is another crucial precondition for successful reform. Economic development requires innovation, creativity สล็อต