ECONOMY
ECONOMY
PEOPLE ARE EMPLOYED IN AGRICULTURE. THEY FARM AND GROW: CORN, WHEAT, COTTON, RICE, BARLEY, AND FRUIT . EGYPT PRODUCES CHEESE AND DIARY PRODUCTS. CHIEF INDUSTRIES INCLUDE FOOD PROCESSING, TEXTILES, CHEMICALS, CEMENT, PETROLEUM, AND METALS. EGYPT EXPORTS THE COTTON, PETROLEUM, YARN, AND TEXTILES. IMPORTANT NATURAL RESOURCES ARE OIL, NATURAL GAS,LEAD, AND OTHER MINERALS . THE SUEZ CANAL IS A VITAL SOURCE OF INCOME. TOURISMS USUALLY A LEADING INDUSTRY; THREATS OF VIOLENCE HAVE KEPT TRAVELERS AWAY FROM EGYPT. THE CURRENCY IS THE EGYPTIAN POUND. EGYPT'S REAL GROSS DOMESTIC PRODUCT PER CAPITA IS 3,540. THE G.D.P.HAS MADE PROGRESS WITH LONG TERM ECONOMIC REFORMS,IT HAS LOWERED INFLATION TO LESS THAN, 5 PERCENT AND IMPROVED THE CLIMATE FOR INTERNATIONAL TRADE. THE REFORMS HAVE ALLOWED FOR MORE RAPID PRIVATIZATION OF STATE OWNED ENTERPRISES SIGNIFICANTLY BOOSTING CONFIDENCE IN THE ECONOMY AND OPENED THE WAY FOR MORE RAPID GROWTH.
EGYPT IS A PRE-DOMINANTLY AGRICULTURAL COUNTRY, ABOUT 40%OF THE LABOR FORCE IS ENGAGED IN CROP FARMING, OR HERDING . THE PATTERN OF LANDOWNERSHIP WAS GREATLY ALTERED BY THE AGRICULTURAL REFORM DECREE OF 1952, WHICH LIMITED INDIVIDUAL HOLDINGS TO ABOUT 80 HA (ABOUT 200 ACRES) THIS WAS REVISED IN 1961 TO ABOUT 40 HA ABOUT 100 ACRES) AND REVISED AGAIN TO ABOUT 20 HA ABOUT 50 ACRES IN 1969. ECONOMIC DISPRITY STILL REMAINS BETWEEN THE MIDDLE CLASS FARMERS AND THE WORKING CLASS. GOVERNMENT PROGRAMS HAVE EXPANDED AND AREAS THROUGH RECLAMATION HAVE HELPED TO NARROW THE DISPARITY. THE ASWAN HIGH DAM IN 1970 AND THE UTILIZATION OF TECHNOLOGY HAS ADVANCED THE AGRICULTURE. FERTILIZERS AND MECHANIZED EQUIPMENT HAVE MADE FARMING IN EGYPTIAN FARMLANDS ONE OF THE MOST PRODUCTIVE IN THE WORLD.
WRITTEN AND ILLUS TRATEE BY: JOSE BONILLA
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