Mohammad A. Ibrahim recently published an article in The Egyptian Gazette, marking the 20th anniversary of Hosni Mubarak’s leadership. The piece listed the president’s economic achievements and praised his financial foresight. Realizing how dire the country's economic situation was, Mubarak called for a economic conference in 1982 to discuss new strategies for improving Egypt’s productivity levels.
Ibrahim added that Egyptians still recall how burdening the country’s foreign debts were. In a matter of 20 years, Egypt’s foreign debt dropped from $45 billion to $25 billion while the Egyptian GNP increased to EP494 billion ($115 billion) from just EP21 billion ($5 billion) in 1981.
As for education, investments rose 17 fold, while the number of university faculties doubled to 343. At the time of president Sadat's death, only three new urban communities were developed. At this time, there are 22 new neighborhoods and 4.8 housing units being built. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
