Egypt- Where to?

As the uproar and unrest continues in Egypt, the national economy has been hit in the hardest in the past few days. Citizens are rioting across most major cities, which has caused unrest and the sudden decrease of stability.

Standard & Poor’s rating agency gave the Egyptian economy  lower long-term foreign and local currency sovereign ratings, cutting it down to B+ from BB-, with a negative outlook. Other than the current wave of rioting against the ruling military council (SCAF), S&P also credited the decline of Egypt’s net international reserves and the risk of increasing unrest caused by more rising projections. The fact that the riots aim to overthrow the current ruling council confirm that stability is a dream that is very hard to achieve right now.

The outlook in Egypt and most of the Middle East is not bright right now, and unless an end can be found to the huge riots, looting, and police clashes, it’s not improving anytime soon.