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The economy of Egypt is a highly centralized economy, focused on import substitution under president Gamal Abdel Nasser (1954–1970). During the rule of president Abdel Fattah el-Sisi (2014–present), the economy follows Egypt's 2030 Vision. The policy is aimed at diversifying Egypt's economy.
Egypt's struggling economy faces new risks as the war in the neighbouring Gaza Strip threatens to disrupt tourism bookings and natural gas imports. Oil-rich Gulf countries, which repeatedly ...
According to a statement issued by Egyptian President Abdel Fattah el-Sisi in 2016, the military represents between 1.5 and 2 percent of the Egyptian economy (US$2.39 billion to US$4.46 billion). Egypt's growing military footprint and its control over economic policy are considered by analysts to be a hallmark of the Sisi government and one of ...
Economy of Egypt and the environment; Economy of the Egyptian Armed Forces; Egypt Economic Development Conference; Egypt Vision 2030; Egyptian cigarette industry; Egyptian pound; Entrepreneurship policies in Egypt
The economy took another hit in 1997, when terrorists massacred 58 foreign tourists in Luxor, sending the country's $11 billion tourism industry -- which represents 11% of Egypt's gross domestic ...
Some call him the Egyptian de Gaulle. Others refer to him as a Mubarak strongman with a cult of personality. Whatever the case, Abdel-Fattah al-Sisi's elevation to president in the upcoming ...
Egypt has received United States foreign aid since 1979 (an average of $2.2 billion per year) and is the third-largest recipient of such funds from the United States following the Iraq war. Egypt's economy mainly relies on these sources of income: tourism, remittances from Egyptians working abroad and revenues from the Suez Canal. [213]
This allowed Egypt to repurpose its security apparatus, making it the sole arbiter of Egypt’s economic and political system at a time when the country was still in transition. [ 1 ] The mass protests of the Arab Spring led to the 11 February 2011 resignation of former Egyptian president Hosni Mubarak and sparked largescale economic changes.