FX.co ★ Results of revolutions: a number of transformations after the change of power

Considering the question of the consequences of revolutionary transformations on the example of Tunisia and Egypt, the countries where the wave of protests in North Africa and the Middle East began, it should be understood that the desire for change, the demand for reforms and the search for social justice by citizens are quite understandable, since these people live in conditions of prosperous corruption and authoritarian rule.

In 2011, both in Tunisia and Egypt, the previous authority was overthrown, but this fact did not affect the economy of these countries positively. Egypt's GDP growth fell from 7.2% in 2008 to 2.2% in 2012-2014. As for the Tunisian economy, its recovery is very small.

The situation of the tourism industry in Egypt and Tunisia, where it is 11% and 7% of GDP, respectively, and also contributes to a significant reduction in the level of unemployment, is also not to be envied. Of course, tourists visit these countries, but their number has not yet reached the level of 2009-2010.

Also, revolutions negatively affected the volume of foreign investment in these states. The sphere of tourism is the most attractive for foreign capital in Tunisia and Egypt, and it, as already noted, has suffered significantly.

As a result of the revolutionary upheavals, the currency reserves of Tunisia decreased by one third, while the Central Bank of Egypt spent more than half of it to support the national currency after the change of power. To a large extent, the coup was triggered by the rise in prices for food, and by the time of the change of power, inflation in Egypt in annual terms had risen by 11%. At present, inflation is still high.

Among the causes of popular unrest unemployment occupied an important place. Several years after the end of the revolution, the situation almost has not changed: the unemployment level in Tunisia is above 10%. In Egypt, the number of unemployed people is still quite large.