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In 1952 Egypt’s private sector accounted for 76 percent of economic investment. Following the nationalization plans carried out by President Gamal Abdel Nasser in the effort to build a post-independence socialist state, this percentage drastically shifted within a few decades to government investment accounting for over 80 percent of economic investment. [1]
Egypt's economy was highly centralised during the presidency of Gamal Abdel Nasser, becoming more market-driven under Anwar Sadat and Mubarak. From 2004 to 2008 the Mubarak government pursued economic reform to attract foreign investment and increase GDP, later postponing further reforms because of the Great Recession.
Private companies can also work closely with government to provide the social benefits of a state utility in the short term and the competition of a private market for the long term. South Africa commercialized the formerly public utility Eskom, but worked with them to continue grid expansion. The South African government helps fund new ...
Egypt also has been struggling to revive the lucrative tourism sector. In the new Cabinet, Sherif Fathy, a former civil aviation minister, replaced Ahmed Issa as tourism and antiquities minister.
[17] [18] Initially, the government took a hard line by using riot-control tactics and by shutting down the internet and telecom networks, which in turn intensified the protests. On 28 January 2011, Mubarak ordered the deployment of the army as the embattled police forces collapsed, leading to "the largest policing failure in Egypt's history".
The move was read by CNN as allowing for "the poor, the disenfranchised, and the mass of young people" to take part in the protests. One sports writer said that "The involvement of organised soccer fans in Egypt's anti-government protests constitutes every Arab government's worst nightmare. Soccer, alongside Islam, offers a rare platform in the ...
Egypt faced long-term supply- and demand-side repercussions of the global financial crisis on the national economy. Post-revolution (2012–present): the Egyptian economy suffered from a severe downturn following the 2011 revolution and the government faced numerous challenges to restore growth, market and investor confidence. [30]
The politics of Egypt takes place within the framework of a republican semi-presidential system of government. The current political system was established following the 2013 Egyptian military coup d'état, and the takeover of President Abdel Fattah el-Sisi. In the current system, the President is elected for a six-year term.