This new economic policy has allowed increased…
1977 CE
wealth and property, and relaxed currency regulations so that Egyptians can have access to foreign currency.
The new direction gradually changes Egypt in many ways: the shops fill with foreign consumer goods; foreign companies build huge modern hotels; and new wealth is displayed in a way that has not been seen in Egypt since before the 1952 Revolution.
Doubts begin to be expressed, however, about how much all this is actually doing for the Egyptian people since foreign investment in long-term agricultural or industrial projects is lacking.
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The Near and Middle East
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