03:35 - Source: CNN
Egypt's economy on the edge

Story highlights

Egypt's budget deficit and unemployment continue to rise as growth slows.

Egypt grew above 5% before the revolution, the economy barely growing now

Foreign reserves dropped just over a billion dollars in June to $14.92 billion

Editor’s Note: CNN’s John Defterios is CNN’s Emerging Markets Editor and anchor of Global Exchange. Watch the Sunday to Thursday 1900 UAE and follow him on Twitter.

CNN —  

The euphoria that greeted the transition to military rule in Egypt and prompted a 12% rally in three days last week has quickly faded. Five days into the military’s rule in the country’s second revolution and the transition is looking as messy as the first time around.

Protests in support of Mohamed Morsy, and subsequent killings and injuries that have taken place, will make it even more challenging to stabilize the most populous country in this region.

Read more: A week of upheaval in Egyptian politics

Now the difficult financial work begins. The governor of Egypt’s central bank, Hisham Ramez, came to Abu Dhabi Sunday for private meetings but he tried to fly under the radar.