Egypt, officially the Arab Republic of Egypt, is a country mainly in North Africa. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world. Covering an area of about 1,010,000 square kilometers. Located at a strategic trade location, Egypt is both a major North African economic power and thecultural leader of the Arab world. Egypt is the 30th largest country in the world. Egypt is famous for its ancient civilization, with famous monuments such as the Giza pyramid complex and its Great Sphinx. Cairo, the capital and largest city, is the most modern in the Middle East and Africa.
A majority of the population resides along the highly fertile Nile basin. The Nile River is also central to Egypt’s economy, as a majority of the trade activities take place along this basin. Until the late 1990s, Egypt’s economy was highly centralized due to the economic policies of the former Presidents Gamal Abdel Nasser and Anwar Sadaat. However, during 2004-08, the country saw major economic reforms targeted towards attracting foreign direct investment. The global recession in 2008 - 2009 forced economic reforms to take a backseat. The economy remains relatively closed, with the dominant force in the country, the military, dominating many industries. Army-owned companies hold monopolies in sectors as diverse water, olive oil, cement, construction, hotels, and the all important oil industry. The remaining industries tend to be controlled by cronies of the former government, with all the corruption that goes with that In 2000, agriculture accounted for 17% of GDP and 34% of employment. Egypt's total agricultural crop production has increased by more than 20 percent in the past decade. During the same period, the rate of population growth has increased at a slightly higher rate than the increase in crop production. he most important crops grown in Egypt are Cereals. Fibre crops. Cotton has traditionally...
Please join StudyMode to read the full document