Egypt Then and Now » Suez Canal http://allaboutegypt.org Mon, 06 Feb 2012 21:04:47 +0000 http://wordpress.org/?v=2.9 en hourly 1 Egypt: Economy expected to grow 5% this fiscal year http://allaboutegypt.org/2009/07/egypt-economy-expected-to-grow-5-this-fiscal-year/ http://allaboutegypt.org/2009/07/egypt-economy-expected-to-grow-5-this-fiscal-year/#comments Sun, 05 Jul 2009 20:54:29 +0000 Ben Morales-Correa http://allaboutegypt.org/?p=938 Egypt’s economy may grow nearly 5 percent in the fiscal year that ends in June 2010, Finance Minister Youssef Boutros-Ghali said today.

The economy of the most populous Arab country is expected to expand by up to 4.7 percent in the fiscal year that ended in June, compared to 7.2 percent in the previous year, Boutros- Ghali told reporters in Cairo, as the global recession hurt revenue from the Suez Canal and tourism.

Egypt’s economy expanded by just above 7 percent annually for the past three years before the last fiscal year, helped by rising revenue from tourism, the Suez Canal and foreign direct investment.

The government is targeting a budget deficit of 8.5 percent in the current fiscal year, Boutros-Ghali said.

Bloomberg

]]> http://allaboutegypt.org/2009/07/egypt-economy-expected-to-grow-5-this-fiscal-year/feed/ 0 Three Empires On the Nile http://allaboutegypt.org/2009/07/three-empires-on-the-nile/ http://allaboutegypt.org/2009/07/three-empires-on-the-nile/#comments Wed, 01 Jul 2009 13:38:53 +0000 Ben Morales-Correa http://allaboutegypt.org/?p=927 Three Empires on the NileBetween the completion of the Suez Canal in 1869 and the Battle of Omdurman in 1898, the British Empire expanded up the Nile River, impelled by varied motives: money, vengeance, humanitarianism, and imperial diplomacy. In Three Empires on the Nile, Green’s panoramic narrative re-creates these three decades with remarkable dynamism, applying a flair for pithy characterization to the political and religious players involved. Among the dozens of portraits worked into the chronicle, none are sharper than Green’s images of two men who personify the period: General Charles George Gordon and Mohammed Ahmed (better known as the Mahdi), both of whom were mystics. Where Gordon’s mysticism was Christian and personalistic, the Mahdi’s was Islamic and totalistic. As the “Expected Guide” awaited in Islamic tradition, confirmed as such to his adherents by his killing of Gordon at Khartoum in 1885, the Mahdi established a militantly fundamentalist state destroyed in turn by the Anglo-Egyptian forces of General Herbert Kitchener. Occasionally bemused but never supercilious, Green achieves a vividly popular account of Britain’s ascendance in Egypt and Sudan.

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