Author Box
Articles Categories
All Categories
Articles Resources

Egypt: A Rising Star in the World Economy

November 23, 2010 | Comments: 0 | Views: 69

Egypt has always been famous for its pyramids, pharaohs and enticing tales of magic and the Other World. But in modern times it is one of the most rapidly emerging economies in the world. The country did indeed suffer a setback during the pre Gulf War days, but later due to the correct utilization of the debt relief funds and the International Monetary Funds arrangements settled upon it, Egypt has taken strict control of its economy and the Egyptian Government has successfully managed to control all adversities, making it one of the most developed countries in Africa. One look at the skyline of the city of Cairo and it would be hard to distinguish it from any other modern country in the world.

Causes for Development: One of the advantages that Egypt had was the interest the corporate investors too in the country. Large amounts of privatizations opened new horizons to the general people about which they were not previously even aware of. The existing industries were given a makeover, new employment opportunities and an improved educational system also helped in making the base of the country more secure. The Nile Delta, considered the richest and the most advanced area of Egypt saw the influx of new entrepreneurs. Add to that a growing tourism industry, which now has become more organized and the proper exploitation of the natural resources- Gold and Natural gas- which has huge demands in the world market.

Recent Developments: One of the most positive things about the new governing body of Egypt is that it has controlled inflation with a strict and measured hand. There was a time when inflation had risen to about 14% and now it has reduced to 8% and sometimes goes even lower. This has enabled the Egyptian people to embrace the modern life and this had been largely noticed to the sudden increase in the sales of automobiles.

Egypt has also shown marked progress in the agricultural sector, in steel industries, in the manufacture of consumer goods and other electronic appliances, in banking and insurance, and in the growth of chemical plants. It has a very organized export and import policy which takes care of any dearth that the country might have in producing itself. Especially, being a dry country, it has made remarkable progress in the use of technology for artificial irrigation and it is hard to name a crop not grown here.

Investors are pouring into Egypt now and now not only is it emerging as one of the countries to be reckoned with in near future, but are also one of the richest countries in Africa today. Combined with ancient history and modern development, Egypt is surely a rising star in the world economy.

For more information on Economic Conditions [], check out the info available online; these will help you learn to find the Economic Improvement []!

Source: EzineArticles
Was this Helpful ?

Rate this Article

Article Tags:

World Economy


Rising Star


Modern Country


Dry Country


Rapidly Emerging Economies


World Market

Rather than blame others, take personal responsibility to reduce our dependence on oil by using less of petroleum derived products. Repeatedly we are hearing about oil spills, rising prices on oil

By: Kyles Humphrey l News & Society > Energy l October 17, 2012 lViews: 233

Traditional analysis of debt and deleveraging (the process where households, corporations and governments are forced to reduce their overall debt) is often biased and incomplete. Opinions of how to

By: Ben Esget l News & Society > Economics l August 11, 2012 lViews: 295

In this high paced digital age, it's easy to become displaced from the people and places around you. However, it's important to support your community and your neighbors who live in it, and work hard

By: Monai Gupta l News & Society > Politics l July 11, 2012 lViews: 332

In a bold, unpredictable move, President Obama declared on Monday his desire to extend the Bush-era tax cuts for all but the highest-income earners, by which he means anyone richer than Al and Peg

By: Scott Spiegel l News & Society > Politics l July 10, 2012 lViews: 227

Bipartisanship isn't always sweet. Especially when it comes to the politics of sugar.

By: Larry M. Elkin l News & Society > Politics l July 09, 2012 lViews: 237

In a direct reflection of the financial market's currently unsteady nature, the wholesale energy markets tumbled to a four-month low at the end of May. The bearish market was thanks to the continuing

By: Graham N Paul l News & Society > Energy l July 09, 2012 lViews: 221

Traditional analysis of debt and deleveraging (the process where households, corporations and governments are forced to reduce their overall debt) is often biased and incomplete. Opinions of how to

By: Ben Esgetl News & Society > Economicsl August 11, 2012 lViews: 295

There has been a trend for many governments around the world to augment national budgetary resources by incurring debt. This debt is raised through deficit budgets supplemented by quantitative

By: Ashok Malhotral News & Society > Economicsl April 25, 2012 lViews: 242

Not long ago, I had the opportunity to discuss economic philosophy with something that was less-than-human. Now you might think that this is a negative, but I assure you it isn't. Nevertheless, when

By: Lance Winslowl News & Society > Economicsl April 25, 2012 lViews: 191

The economy suffers when banks concentrate on collecting fees rather than deposits. And on making trades rather than loans.

By: Larry M. Elkinl News & Society > Economicsl April 24, 2012 lViews: 207

Anyone on a budget can benefit using money saving tips. With the uncertain political and economic climate, it pays to turn over a few stones.

By: George Wul News & Society > Economicsl April 23, 2012 lViews: 225

This article discusses the need for having a long-term food supply as part of an emergency preparedness plan during uncertain economic times. No more than ever, this is an issue that needs to be

By: Ashley Buenol News & Society > Economicsl April 22, 2012 lViews: 190

Discuss this Article

comments powered by Disqus