Book/Printed Material Image 34 of Egypt : a country study

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mechanization, and land reclamation programs following the con- struction of the Aswan High Dam — a program underway in 1991 involved 300,000 feddans (see Glossary) to be worked jointly with Sudan — Egypt 's agricultural output did not keep pace with popu- lation growth. Although pricing reforms and the elimination of government quotas for most crops helped increase output, produc- tion remained insufficient. Part of the problem was lack of proper drainage and consequent reduction of optimum yields. In gener- al, a major challenge facing Egypt was better exploitation of its water resources, including exploration for new underground water, particularly in the Western Desert, and improved irrigation tech- nology. Government development plans also sought to promote generation of electricity and other energy sources such as oil, gas, and coal as well as to improve further the transportation network of roads, railroads, and canals and to update telecommunications.
Egypt 's major sources of foreign exchange used for development projects and for needed imports were oil revenues, Suez Canal tolls, tourism income, and workers ' remittances from the approximate- ly 2.5 million Egyptians working abroad. Added to these were cap- ital grants from other Arab states after the October 1973 War and, as well, economic and military grants from the United States and loans from the Paris Club (the informal name for a consortium of eighteen Western creditor nations) after the conclusion of the 1979 peace treaty with Israel.
Egypt faced a serious economic situation in the late 1980s and early 1990s: stagnation and ultimately negative economic growth in addition to heavy indebtedness. After two years of negotiations with the International Monetary Fund (IMF — see Glossary), the Egyptian government finally concluded a preliminary agreement in October 1990 that enabled it to reschedule its US$18 billion debt to Paris Club members. The agreement required Egypt to increase prices of certain basic commodities such as gas, fuel oil, gasoline, electricity, flour, and rice by eliminating or reducing subsidies. Mandated, as well, were the devaluation and unification of the Cen- tral Bank exchange rate and the exchange rate of commercial banks, raising of the interest rate, and reforming of the foreign invest- ment law. Egypt also sought to promote privatization of the in- dustrial public sector — one of the recommendations of the World Bank (see Glossary) — and announced in October 1990 that it would establish nine new industrial " free zones " to encourage investment and create more jobs. Some officials recognized that, additional- ly, the government needed to restructure management style in the public sector and banking to encourage greater efficiency and productivity. Another economic problem facing Egypt was rising
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About this Item

Title
Egypt : a country study
Contributor Names
Metz, Helen Chapin, 1928-
Library of Congress. Federal Research Division.
Created / Published
Washington, D.C. : Federal Research Division, Library of Congress : For sale by the Supt. of Docs., U.S. G.P.O., 1991.
Subject Headings
-  Egypt
Notes
-  "Research completed December 1990."
-  Supercedes the 1983 ed. of Egypt : a country study, edited by Richard F. Nyrop and issued by Foreign Area Studies, American University.
-  Includes bibliographical references (p. 369-391) and index.
-  Also available in digital form on the Library of Congress Web site and the Internet Archive Web site.
Medium
xxxv, 428 p. : ill., maps ; 24 cm.
Call Number/Physical Location
DT46 .E32 1991
Digital Id
http://hdl.loc.gov/loc.gdc/cntrystd.eg
http://hdl.loc.gov/loc.gdc/scd0001.00018381473
Library of Congress Control Number
91029876
Online Format
image
online text
pdf
Description
Book. xxxv, 428 p. : ill., maps ; 24 cm. Metz, Helen Chapin, 1928- , Library of Congress. Federal Research Division.Washington, D.C. : Federal Research Division, Library of Congress : For sale by the Supt. of Docs., U.S. G.P.O., 1991. Call Number: DT46 .E32 1991. Egypt "Research completed December 1990." Supercedes the 1983 ed. of Egypt : a country study, edited by Richard F. Nyrop and issued by Foreign Area Studies, American University. Includes bibliographical references (p. 369-391) and index.
LCCN Permalink
https://lccn.loc.gov/91029876
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Sample format for citing a Country Study:

Metz, Helen Chapin, ed. Turkey:  A Country Study. Washington, DC: GPO for the Library of Congress, 1996.

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Chicago citation style:

Metz, Helen Chapin, and Library Of Congress. Federal Research Division. Egypt: A Country Study. Washington, D.C.: Federal Research Division, Library of Congress: For sale by the Supt. of Docs., U.S. G.P.O, 1991. Pdf. https://www.loc.gov/item/91029876/.

APA citation style:

Metz, H. C. & Library Of Congress. Federal Research Division. (1991) Egypt: A Country Study. Washington, D.C.: Federal Research Division, Library of Congress: For sale by the Supt. of Docs., U.S. G.P.O. [Pdf] Retrieved from the Library of Congress, https://www.loc.gov/item/91029876/.

MLA citation style:

Metz, Helen Chapin, and Library Of Congress. Federal Research Division. Egypt: A Country Study. Washington, D.C.: Federal Research Division, Library of Congress: For sale by the Supt. of Docs., U.S. G.P.O, 1991. Pdf. Retrieved from the Library of Congress, <www.loc.gov/item/91029876/>.