imilar to the flag of
Syria, which has two green stars, and to the flag of Iraq, which has
three green stars (plus an Arabic inscription) in a horizontal line
centered in the white band

@Egypt:Economy

Economy - overview: A series of IMF arrangements - coupled with
massive external debt relief resulting from Egypt's participation in
the Gulf war coalition - helped Egypt improve its macroeconomic
performance during the 1990s. Through sound fiscal and monetary
policies, Cairo tamed inflation, slashed budget deficits, and built up
foreign reserves. Although the pace of structural reforms - such as
privatization and new business legislation - has been slower than the
IMF envisioned, Egypt's steps toward a more market-oriented economy
have prompted increased foreign investment. Lower combined hard
currency inflows - from tourism, worker remittances, oil revenues, and
Suez Canal tolls - in 1998 and the first half of 1999 resulted in
pressure on the Egyptian pound and sporadic dollar shortages, but
external payments were not in crisis. Despite ample reserves, the
Central Bank did not provide sufficient hard currency to commercial
banks and Cairo restricted imports for a short period; these
developments confirmed to some investors and currency traders that
government financial operations lack sufficient coordination and
openness. Monetary pressures have since eased, however, with the
continued oil price recovery starting in mid-1999 and a moderate
rebound in tourism. Increased gas exports are a major plus factor in
future growth.

GDP: purchasing power parity - $200 billion (1999 est.)

GDP - real growth rate: 5% (1999 est.)

GDP - per capita: purchasing power parity - $3,000 (1999 est.)

GDP - composition by sector:
agriculture: 17%
industry: 32%
services: 51% (1999)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: 3.9%
highest 10%: 26.7% (1991)

Inflation rate (consumer prices): 3.7% (1999)

Labor force: 19 million (1999 est.)

Labor force - by occupation: agriculture 40%, services 38%, industry
22% (1990 est.)

Unemployment rate: 11.8% (1999 est.)

Budget:
revenues: $20.7 billion
expenditures: $22.3 billion, including capital expenditures of $NA
(FY98/99)

Industries: textiles, food processing, tourism, chemicals, petroleum,
construction, cement, metals

Industrial production growth rate: 5% (1999 est.)

Electricity - production: 57.8 billion k