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NYT: Egyptian Economy Nearing Crisis

An Egyptian boy rides his bicycle near an army tank as he sells bread in central Cairo on Jan. 31, 2011. MOHAMMED ABED/AFP/Getty Images
(CBS/AP) Tourism, foreign commerce and banking have been all but halted in Egypt as its economy reaches a crisis point amid the chaos that's been playing out for the last week, reports the New York Times Monday.

International companies are closing plants and sending workers home or out of the country, reports the Times. Most Egyptians are paid monthly and the banks have been closed during the time many workers would receive paychecks, says the report. Food staples for stores are undelivered and a ratings agency has cut Egypt's bond rating.

Poorer Egyptians tell the Times they've cut back to two meals a day to deal with the crisis.

Live Blog Day 7: Egypt in Crisis
Complete Coverage: Anger in the Arab World

The anger behind the Egyptian uprising is about a lot of things, including abuse, corruption and freedom of expression. Above all it's about unemployment and the price of food, which has skyrocketed in a country where almost half the population lives on less than $2 a day.

Opposition groups have called for a million people to take to Cairo's streets Tuesday to demand the removal of President Hosni Mubarak, the clearest sign yet that a unified leadership was trying to emerge for Egypt's powerful but disparate protest movement.

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