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The Central Bank explained that Egypt's non-oil trade deficit had improved by 34% during the past year ending in June, declining to US$31.6 billion, compared to US$47.8 billion in the previous fiscal year, supported by a decrease in payments for non-oil commodity imports by about US$16.4 billion.
Egypt's main imports consist of pharmaceuticals and non-petroleum products such as wheat, maize, cars and car spare parts. The current account grew from 0.7% of GDP in FY2002 to 3.3% at FY2005. Egypt's Current Account made a surplus of US$4,478 million in FY2005 compared to a deficit of US$158 million in FY2004.
The relations between the Sultan and Egypt are extremely volatile. The Treaty would thwart Russian power over the Ottoman Empire and benefit British producers significantly. Though the Ottomans would gain slightly from increased trade, the main incentive is to bring down Mehmet Ali by abolishing monopolies, Egypt's primary source of income.
Whether the trade deficit is really a problem for the American economy is debatable. But either way, most economists oppose using tariffs to address the issue, arguing that higher tariffs will ...
In 2017, the last full year before Trump's tariffs were imposed, America's overall trade deficit was $517 billion. By 2023, it had grown to $785 billion. Trump Said Tariffs Would Reduce the Trade ...
In practice, Muhammad Ali's land reform amounted to a monopoly on trade in Egypt. He required all producers to sell their goods to the state. The state in turn resold Egyptian goods, within Egypt and to foreign markets, and retained the surplus. The practice proved very profitable for Egypt with the cultivation of long staple cotton, a new cash ...
The Free Alaa campaign said he should have been released in September 2024 and his 68-year-old mother Laila Soueif is on hunger strike in protest over his continued imprisonment in Egypt.
Supporting free education, social solidarity and social justice. Supporting state-provided mother, child and youth care. Advocating the elimination of economic monopolies. Advocating separation of the legislative, judicial and executive authorities. Advocating integration with the Arab world and the reviving of Arab nationalism.