In a thought-provoking analysis, Sakib Sherani contrasts the political and economic trajectories of Egypt and Indonesia, emphasizing the stark differences in governance and economic outcomes between the two nations. Egypt, with a population of approximately 116 million, has struggled under autocratic governance, leading to significant economic challenges. The country has a nominal per capita income of $3,500 and has undergone 12 bailouts from the International Monetary Fund (IMF), making it the second-largest borrower from the Fund [54f7f84c].
In stark contrast, Indonesia has experienced remarkable growth, with its nominal GDP increasing over 14 times from 1998 to 2023. The per capita income in Indonesia has risen 11 times during the same period, showcasing the benefits of a democratic governance model that prioritizes economic development [54f7f84c]. Sherani highlights that Indonesia's military made a crucial decision to retreat from politics, which has contributed significantly to the country's economic prosperity and stability.
Sherani warns that Pakistan appears to be leaning towards an autocratic model similar to Egypt's, which poses risks to its democratic future. The author suggests that adopting such a governance style could hinder Pakistan's economic growth and development, drawing a clear line between the paths taken by Egypt and Indonesia [54f7f84c].
The analysis serves as a cautionary tale for Pakistan, urging policymakers to consider the implications of governance structures on economic outcomes. By reflecting on the experiences of Egypt and Indonesia, Sherani advocates for a commitment to democratic principles and economic reforms that could lead to sustainable growth and prosperity for Pakistan [54f7f84c].