title: Cato Institute

text: In 2018, several former Cato employees alleged longtime sexual harassment by Crane, going back to the 1990s and continuing until his departure in 2012. "Politico" reported that he settled one such claim in 2012. Crane denied the allegations.


title: Cato Institute

text: Since 2002, the Cato Institute has awarded the Milton Friedman Prize for Advancing Liberty every two years to "an individual who has made a significant contribution to advancing human freedom." The prize comes with a cash award of US$250,000.


title: Cato Institute

text: The Cato Institute is an associate member of the State Policy Network, a U.S. national network of free-market oriented think tanks.


title: Cato Institute

text: According to the "2020 Global Go To Think Tank Index Report" (Think Tanks and Civil Societies Program, University of Pennsylvania), Cato is number 27 in the "Top Think Tanks Worldwide" and number 13 in the "Top Think Tanks in the United States". Other "Top Think Tank" rankings include # 13 (of 85) in Defense and National Security, #5 (of 80) in Domestic Economic Policy, #4 (of 55) in Education Policy, #17 (of 85) in Foreign Policy and International Affairs, #8 (of 30) in Domestic Health Policy, #14 (of 25) in Global Health Policy, #18 (of 80) in International Development, #14 (of 50) in International Economic Policy, #8 (of 50) in Social Policy, #8 (of 75) for Best Advocacy Campaign, #17 (of 60) for Best Think Tank Network, #3 (of 60) for best Use of Social Networks, #9 (of 50) for Best External Relations/Public Engagement Program, #2 (of 40) for Best Use of the Internet, #12 (of 40) for Best Use of Media, #5 (of 30) for Most Innovative Policy Ideas/Proposals, #11 (of 70) for the Most Significant Impact on Public Policy, and #9 (of 60) for Outstanding Policy-Oriented Public Programs. Cato also topped the 2014 list of the budget-adjusted ranking of international development think tanks.


title: Economy of Egypt

text: The economy of Egypt used to be a highly centralized economy, focused on import substitution under president Gamal Abdel Nasser (1954–1970). During the rule of president Abdel Fattah el-Sisi (2014–present), the economy follows Egypt's 2030 Vision. The policy is aimed at diversifying Egypt's economy. The country's economy is the second largest in Africa after Nigeria regarding nominal GDP, and 33rd in worldwide ranking as of 2022.


title: Economy of Egypt

text: Since the 2000s, the pace of structural reforms (including fiscal and monetary policies, taxation, privatization and new business legislation) helped Egypt move towards a more market-oriented economy and prompted increased foreign investment. The reforms and policies have strengthened macroeconomic annual growth results. As Egypt's economy healed, other prominent issues like unemployment and poverty began to decline significantly.


title: Economy of Egypt

text: The country benefits from political stability; its proximity to Europe, and increased exports. It also enjoys a strong currency. From an investor perspective, Egypt is stable and well-supported by external stakeholders.


title: Economy of Egypt

text: The following table shows the main economic indicators in 1986–2021 (with IMF staff estimtates in 2022–2027). Inflation below 10% is in green.


title: Economy of Egypt

text: From the 1850s until the 1930s, Egypt's economy was heavily reliant on long-staple cotton, introduced in the mid-1820s during the reign of Muhammad Ali (1805–49) and made possible by the switch from basin irrigation to perennial, modern irrigation. Cotton cultivation was a key ingredient in an ambitious program that the Egyptian ruler undertook to diversify and develop the economy.


title: Economy of Egypt

text: Another such ingredient was industrialization. Industrialization, however, proved for various domestic and external reasons to be less than successful, and until the 1930s, virtually no industrial build-up occurred. The failure of industrialization resulted largely from tariff restrictions that Britain imposed on Egypt through a 1838 commercial treaty, which allowed only minuscule tariffs, if any. The isolated industrial ventures initiated by members of Egypt's landed aristocracy, who otherwise channeled their investment into land acquisition and speculation, were nipped in the bud by foreign competition. The few surviving enterprises were owned by foreigners. These enterprises either enjoyed natural protection, as in the case of sugar and cotton processing, or benefited from the special skills that the foreign owners had acquired, as in the case of cigarette making by Greeks and Turks.


title: Economy of Egypt

text: The beginnings of industrialization awaited the depression of the late 1920s and 1930s and World War II. The depression sent cotton prices tumbling, and Britain acceded to Egyptian demands to raise tariffs. Moreover, World War II, by substantially reducing the flow of foreign goods into the country, gave further impetus to the establishment of import-substitution industries. A distinguishing feature of the factories built at this time was that they were owned by Egyptian entrepreneurs.


title: Economy of Egypt

text: In spite of the lack of industrialization, the economy grew rapidly throughout the nineteenth century. Growth, however, was confined to the cotton sector and the supporting transportation, financial, and other facilities. Little of the cotton revenues was invested in economic development. The revenues were largely drained out of the country as repatriated profits or repayments of debts that the state had incurred to pay for irrigation works and the extravagance of the khedives.


title: Economy of Egypt

text: Rapid economic growth ended in the early 1900s. The supply of readily available land had been largely exhausted and multiple cropping, concentration on cotton, and perennial irrigation had lessened the fertility of the soil. Cotton yields dropped in the early 1900s and recovered their former level only in the 1940s, through investments in modern inputs such as fertilizers and drainage.


title: Economy of Egypt

text: The fall in agricultural productivity and trade led to a stagnation in the per capita gross national product (GNP) between the end of World War I and the 1952 Revolution: the GNP averaged , in 1954 prices, at both ends of the period. By 1952 Egypt was in the throes of both economic and political crises, which culminated in the assumption of power by the Free Officers.


title: Economy of Egypt

text: By necessity if not by design, the revolutionary regime gave considerably greater priority to economic development than did the monarchy, and the economy has been a central government concern since then. While the economy grew steadily, it sometimes exhibited sharp fluctuations. Analysis of economic growth is further complicated by the difficulty in obtaining reliable statistics. Growth figures are often disputed, and economists contend that growth estimates may be grossly inaccurate because of the informal economy and workers' remittances, which may contribute as much as one-fourth of GNP. According to one estimate, the gross domestic product (GDP), at 1965 constant prices, grew at an annual compound rate of about 4.2 percent between 1955 and 1975. This was about 1.7 times larger than the annual population growth rate of 2.5 percent in the same period. The period between 1967 and 1974, the final years of Gamal Abdul Nasser's presidency and the early part of Anwar el-Sadat's, however, were lean years, with growth rates of only about 3.3 percent. The slowdown was caused by many factors, including agricultural and industrial stagnation and the costs of the June 1967 war. Investments, which were a crucial factor for the preceding growth, also nose-dived and recovered only in 1975 after the dramatic 1973 increase in oil prices.


title: Economy of Egypt

text: Like most countries in the Middle East, Egypt partook of the oil boom and suffered the subsequent slump. Available figures suggest that between 1975 and 1980 the GDP (at 1980 prices) grew at an annual rate of more than 11 percent. This impressive achievement resulted, not from the contribution of manufacturing or agriculture, but from oil exports, remittances, foreign aid, and grants. From the mid-1980s, GDP growth slowed as a result of the 1985-86 crash in oil prices. In the two succeeding years, the GDP grew at no more than an annual rate of 2.9 percent. Of concern for the future was the decline of the fixed investment ratio from around 30 percent during most of the 1975-85 decade to 22 percent in 1987.


title: Economy of Egypt

text: Under comprehensive economic reforms initiated in 1991, Egypt has relaxed many price controls, reduced subsidies, reduced inflation, cut taxes, and partially liberalized trade and investment. Manufacturing had become less dominated by the public sector, especially in heavy industries. A process of public sector reform and privatization has begun to enhance opportunities for the private sector.


title: Economy of Egypt

text: Agriculture, mainly in private hands, has been largely deregulated, with the exception of cotton and sugar production. Construction, non-financial services, and domestic wholesale and retail trades are largely private. This has promoted a steady increase of GDP and the annual growth rate. The Government of Egypt tamed inflation bringing it down from double-digit to a single digit. Currently, GDP is rising smartly by 7% per annum due to successful diversification.


title: Economy of Egypt

text: Gross domestic product (GDP) per capita based on purchasing-power-parity (PPP) increased fourfold between 1981 and 2006, from US$1,355 in 1981, to US$2,525 in 1991, to US$3,686 in 2001 and to an estimated US$4,535 in 2006. Based on national currency, GDP per capita at constant 1999 prices increased from in 1981, to in 1991, to in 2001 and to in 2006.


title: Economy of Egypt

text: Based on the current US$ prices, GDP per capita increased from US$587 in 1981, to US$869 in 1991, to US$1,461 in 2001 and to an estimated US$1,518 (which translates to less than US$130 per month) in 2006. According to the World Bank Country Classification, Egypt has been promoted from the low income category to lower middle income category. As of 2013, the average weekly salaries in Egypt reached (approx. US$92), which grew by 20% from the previous year.


title: Economy of Egypt

text: The reform program is a work in progress. Noteworthy that the reform record has substantially improved since Nazif government came to power. Egypt has made substantial progress in developing its legal, tax and investment infrastructure. Indeed, over the past five years, Egypt has passed, amended and admitted over 15 legislative pieces. The economy is expected to grow by about 4% to 6% in 2009–2010.


title: Economy of Egypt

text: Surging domestic inflationary pressures from both economic growth and elevated international food prices led the Central Bank of Egypt to increase the overnight lending and deposit rates in sequential moves since February 2008. The rates stood at 11.5% and 13.5%, respectively, since 18 September 2008.


title: Economy of Egypt

text: The rise of the World Global Financial Crisis led to a set of fiscal-monetary policy measures to face its repercussions on the national economy, including reducing the overnight lending and deposit rates by 1% on 12 February 2009. The rates currently stand at 10.5% and 12.5%, respectively.


title: Economy of Egypt

text: Reform of energy and food subsidies, privatization of the state-owned Bank of Cairo, and inflation targeting are perhaps the most controversial economic issues in 2007–2008 and 2008–2009.


title: Economy of Egypt

text: Egypt's trade balance marked US$10.36 billion in FY2005 compared to US$7.5 billion. Egypt's main exports consist of natural gas, and non-petroleum products such as ready-made clothes, cotton textiles, medical and petrochemical products, citrus fruits, rice and dried onion, and more recently cement, steel, and ceramics.


title: Economy of Egypt

text: Egypt's main imports consist of pharmaceuticals and non-petroleum products such as wheat, maize, cars and car spare parts. The current account grew from 0.7% of GDP in FY2002 to 3.3% at FY2005. Egypt's Current Account made a surplus of US$4,478 million in FY2005 compared to a deficit of US$158 million in FY2004. Italy and the USA are the top export markets for Egyptian goods and services. In the Arab world, Egypt has the largest non-oil GDP as of 2018.


title: Economy of Egypt

text: According to the International Organization for Migration, an estimated 2.7 Million Egyptians abroad contribute actively to the development of their country through remittance inflows, circulation of human and social capital, as well as investment. In 2009 Egypt was the biggest recipient of remittances in the Middle East; an estimated US$7.8 bn was received in 2009, representing approximately 5% of national GDP, with a decline of 10% from 2008, due mostly to the effect of the financial crisis. According to data from Egypt's Central Bank, the United States was the top sending country of remittances (23%), followed by Kuwait (15%), the United Arab Emirates (14%) and Saudi Arabia (9%).


title: Economy of Egypt

text: On the revenues side, total revenues of the government were in FY2002 and are projected to reach in FY2008. Much of the increase came from a rise in customs, excise and tax revenues, particularly personal income and sales, entertainment, and vice taxes which constituted the bulk of total domestic taxes, due to recent tax reforms. This trend is likely to gradually widen the tax base in the forthcoming years. Revenues, however, have remained more or less constant (about 21% ) as a percentage of the GDP over the past few years.


title: Economy of Egypt

text: On the expenditures side, strong expenditure growth has remained a main feature of the budget. This is mainly a result of continued strong expansion of (1) the public-sector wages driven by government pledges. Wages and Compensations increased from in FY2002 to in FY2008; (2) high interest payments on the public debt stock. Interest payments rose from in FY2002 to in FY2008. Importantly, dramatic increase in domestic debt which is projected to be roughly 62% of GDP in FY2008 up from 58.4% in FY2002; and (3) the costs of food and energy subsidies, which rose from in FY2002 to in FY2008.


title: Economy of Egypt

text: The overall deficit, after adjusting for net acquisition of financial assets, remains almost unchanged from the cash deficit. The budget's overall deficit of or −10.2% of GDP for FY2002 has become in FY2007, so that is narrowed to −6.7% of GDP. Deficit is financed largely by domestic borrowing and revenue from divestment sales, which became a standard accounting practice in budget Egypt. The government aims at more sales of State assets in FY2008.


title: Economy of Egypt

text: Recently, the fiscal conduct of the government faced strong criticism and heated debate in the Egyptian Parliament. Remarks were made about weak governance and management, loose implementation of tax collection procedures and penalties for offenders, and improper accounting of the overall system of basic subsidies and domestic debt, leading to domestic market disruptions, high inflation, increased inefficiencies and waste in the domestic economy.


title: Economy of Egypt

text: Treasury bonds and notes issued to the Central Bank of Egypt constitute the bulk of the government domestic debt. Since FY2001, net government domestic debt (i.e. after excluding budget sector deposits) has been rising at a fluctuating but increasing rate. In 2014, it reached 77% up from 54.3% of GDP in 2001.


title: Economy of Egypt

text: A report by Strategic Foresight Group has calculated the opportunity cost of conflict for Egypt since 1991 is almost US$800 billion. In other words, had there been peace since 1991, an average Egyptian citizen would be earning over US$3,000 instead of US$1,700 he or she may earn next year.


title: Economy of Egypt

text: The Central Bank of Egypt is the national reserve bank and controls and regulates the financial market and the Egyptian pound. There is a State regulatory authority for the Cairo Stock Exchange. State-owned or Nationalized banks still account for 85% of bank accounts in Egypt and around 60% of the total savings. The penetration of banking is low in rural areas at only 57% of households.


title: Economy of Egypt

text: Up until 2007, there have been several favorable conditions that allowed the Central Bank of Egypt to accumulate net international reserves, which increased from US$20 billion in FY2005, to US$23 billion in FY2006, and to US$30 billion FY2007 contributing to growth in both reserve money and in broad money (M2). This declined to US$16.4 billion in Oct 2015, according to the Central Bank of Egypt.


title: Economy of Egypt

text: Credit extended to the private sector in Egypt declined significantly reaching about in FY2005. This credit crunch is due to the non-performing loans extended by the banks to business tycoons and top government officials.


title: Economy of Egypt

text: Lending criteria have been tightened following the passing of Money Laundry Law 80 in 2002 and Banking Law 88 in 2003. Interest rates are no longer the dominant factor in banks' lending decisions. In fact, both the inefficiency and absence of the role of the Central Bank of Egypt in qualitative and quantitative control as well as implementing banking procedures and standards was almost entirely responsible for the non-performing loans crisis. Banks steadily reduced credit from its peak of about in FY1999 and alternatively invested in more liquid no-risk securities such as treasury bills and government bonds. Improving private sector access to credit will critically depend on resolving the problem of non-performing loans with businesses and top government officials.


title: Economy of Egypt

text: The era of inflation targeting—i.e. maintaining inflation within a band—has perhaps begun in Egypt more recently. Country experiences show that inflation targeting is a best-practice strategy for monetary policy. While the monetary policy appears more responsive to inflationary pressures recently in Egypt, it is noted that there is no core inflation measure and the Central Bank of Egypt takes targeting decisions based on the inflation rate released by the CAPMAS consumer price index off-the-shelf.


title: Economy of Egypt

text: Surging domestic inflationary pressures from both economic growth and elevated international food prices led the Central Bank of Egypt (CBE) to increase the overnight lending and deposit rates in sequential moves since 2008: it was raised by 0.25% on 10 February 2008, by 0.5% on 25 March 2008, by 0.5% on 8 May 2008, by 0.5% on 26 June 2008, by 0.5% on 7 August 2008 and most recently on 18 September 2008 for the sixth time in a year by 0.5% when it stood at 11.5% and 13.5%, respectively.


title: Economy of Egypt

text: The rise of the World Global Financial Crisis led to a set of fiscal-monetary policy measures to face its repercussions on the national economy, including reducing the overnight lending and deposit rates by 1% on 12 February 2009. The rates currently stand at 10.5% and 12.5%, respectively. The CBE is expected to further cut on interest rates over 2009, with seemingly little fear on Egyptian pound depreciation resulting from decreased interest rates.


title: Economy of Egypt

text: The exchange rate has been linked to the US dollar since the 1950s. Several regimes were adopted including initially the conventional peg in the sixties, regular crawling peg in the seventies and the eighties and crawling bands in the nineties. Over that time period, there were several exchange rate markets including black market, parallel market and the official market. With the turn of the new millennium, Egypt introduced a managed float regime and successfully unified the pound exchange rate vis-à-vis foreign currencies.


title: Economy of Egypt

text: The transition to the unified exchange rate regime was completed in December 2004. Shortly later, Egypt has notified the International Monetary Fund (IMF) that it has accepted the obligations of Article VIII, Section 2, 3, and 4 of the IMF Articles of Agreement, with effect from 2 January 2005. IMF members accepting the obligations of Article VIII undertake to refrain from imposing restrictions on the making of payments and transfers for current international transactions, or from engaging in discriminatory currency arrangements or multiple currency practices, except with IMF approval.


title: Economy of Egypt

text: By accepting the obligations of Article VIII, Egypt gives assurance to the international community that it will pursue economic policies that will not impose restrictions on the making of payments and transfers for current international transactions unnecessary, and will contribute to a multilateral payments system free of restrictions.


title: Economy of Egypt

text: In the fiscal year 2004 and over most of the fiscal year 2005, the pound depreciated against the US dollar. Since the second half of the fiscal year 2006 until the end of the fiscal year 2007, the pound gradually appreciated to per US$1. While it was likely to continue appreciating in the short-term, given the skyrocketing oil prices and the weakening US economy, the advent of the global economic crisis of 2008, and resulting behavior of foreign investors exiting from the stock market in Egypt increased the dollar exchange rate against the Egyptian pound, which rose by more than 4% since Lehman Brothers declared bankruptcy. As the demand pressure from exiting foreign investors eases, the dollar exchange rate against the Egyptian pound is expected to decline. It stands at per US$1 as of 18 June 2013. Due to the rising power of the US dollar, as of January 2015 one dollar equals .


title: Economy of Egypt

text: On 3 November 2016, the Egyptian government announced that it would float the Egyptian pound in an effort to revive its economy, which had been suffering since 2011.


title: Economy of Egypt

text: The conditions of a 2022 IMF loan required the currency to float with the result that it depreciated rapidly prompting international institutions and neighbors such as Saudi Arabia to help. The country has $83.3 B of foreign-currency debt outstanding.


title: Economy of Egypt

text: Warm weather and plentiful water have in the past produced several crops a year. However, since 2009 increasing desertification has become a problem. "Egypt loses an estimated 11,736 hectares of agricultural land every year, making the nation's 3.1 million hectares of agricultural land prone "to total destruction in the foreseeable future", said Abdel Rahman Attia, a professor of agriculture at Cairo University, to IRIN. Scarcity of clean water is also a problem.


title: Economy of Egypt

text: Cotton, rice, wheat, corn, sugarcane, sugar beets, onions, tobacco, and beans are the principal crops. Land is worked intensively and yields are high. Increasingly, a few modern techniques are applied to producing fruits, vegetables and flowers, in addition to cotton, for export. Further improvement is possible. The most common traditional farms occupy each, typically in a canal-irrigated area along the banks of the Nile. Many small farmers also own cows, water buffalos, and chickens. Between 1953 and 1971, some farms were collectivised, especially in Upper Egypt and parts of the Nile Delta.


title: Economy of Egypt

text: Several researchers questioned the domestic (and import) policies for dealing with the so-called the "wheat game" since the former Minister of Agriculture Yousef Wali was in office ( 1982-2004 ).


title: Economy of Egypt

text: In 2006, areas planted with wheat in Egypt exceeded producing approximately 6 million metric tons. The domestic supply price farmers receive in Egypt is (formula_1 US$211) per ton compared to approximately (formula_1 US$340) per ton for import from the US, Egypt's main supplier of wheat and corn. Egypt is the U.S.'s largest market for wheat and corn sales, accounting for US$1 billion annually and about 46% of Egypt's needs from imported wheat. Other sources of imported wheat, include Kazakhstan, Canada, France, Syria, Argentina, and Australia. There are plans to increase the areas planted with wheat up to nearly by 2017 to narrow the gap between domestic food supply and demand. However, the low amount of gluten in Egypt wheat means that foreign wheat must be mixed in to produce bread that people will want to eat.


title: Economy of Egypt

text: Egypt would be the first ever electronic Egyptian Commodities Exchange in the MENA region to facilitate the well-being of its small farmers and supply of products at reasonable prices abolishing the monopoly of goods.


title: Economy of Egypt

text: The Western Desert accounts for about two-thirds of the country's land area. For the most part, it is a massive sandy plateau marked by seven major depressions. One of these, Fayoum, was connected about 3,600 years ago to the Nile by canals. Today, it is an important irrigated agricultural area.


title: Economy of Egypt

text: Practically all Egyptian agriculture takes place in some 25,000 km (6 million acres) of fertile soil in the Nile Valley and Delta.


title: Economy of Egypt

text: Some desert lands are being developed for agriculture, including the controversial but ambitious Toshka project in Upper Egypt, but some other fertile lands in the Nile Valley and Delta are being lost to urbanization and erosion.


title: Economy of Egypt

text: The agriculture objectives on the desert lands are often questioned; the desert farm lands which were offered regularly at different levels and prices were restricted to a limited group of elites selected very carefully, who later profiteered retailing the granted large desert farm land by pieces. This allegedly transforms the desert farms to tourist resorts, hits all government plans to develop and improve the conditions of the poor, and causes serious negative impact on agriculture and the overall national economy over time. One company, for example, bought over 70 hectares of large desert farm for a price as low as per square meter and now sells for per square meter. In numbers, 70 hectares bought for about US$6,000 in 2000 sells for over US$3.7 million in 2007. Currently, no clear solution exists to deal with these activities.


title: Economy of Egypt

text: Agriculture biomass, including agricultural wastes and animal manure, produce approximately 30 million metric tons of dry material per year that could be massively and decisively used, "inter alia", for generating bioenergy and improve the quality of life in rural Egypt. Despite plans of establishing waste-to-energy plants, this resource remains terribly underused.


title: Economy of Egypt

text: Since early 2008, with the world food prices soaring, especially for grains, calls for striking a "new deal" on agriculture increased. Indeed, 2008 arguably marks the birth of a new national agriculture policy and reform.


title: Economy of Egypt

text: Acquisition and ownership of desert land in Egypt is governed by so-called "Egyptian Desert Land Law". It defines desert land as the land two kilometers outside the border of the city. Foreign partners and shareholders may be involved in ownership of the desert land, provided Egyptians own at least 51% of the capital.


title: Economy of Egypt

text: "Egypt", wrote the Greek historian Herodotus 25 centuries ago, "is the gift of the Nile." The land's seemingly inexhaustible resources of water and soil carried by this mighty river created in the Nile Valley and Delta the world's most extensive oasis. Without the Nile River, Egypt would be little more than a desert wasteland.


title: Economy of Egypt

text: The river carves a narrow, cultivated floodplain, never more than 20 kilometers wide, as it travels northward toward Cairo from Lake Nasser on the Sudanese border, behind the Aswan High Dam. Just north of Cairo, the Nile spreads out over what was once a broad estuary that has been filled by riverine deposits to form a fertile delta about wide at the seaward base and about from south to north.


title: Economy of Egypt

text: Before the construction of dams on the Nile, particularly the Aswan High Dam (started in 1960, completed in 1970), the fertility of the Nile Valley was sustained by the water flow and the silt deposited by the annual flood. Sediment is now obstructed by the Aswan High Dam and retained in Lake Nasser. The interruption of yearly, natural fertilization and the increasing salinity of the soil has been a manageable problem resulting from the dam. The benefits remain impressive: more intensive farming on thousands of square kilometers of land made possible by improved irrigation, prevention of flood damage, and the generation of millions of gigajoules of electricity at low cost.


title: Economy of Egypt

text: The rain falling on the coast of the southern regions are the main source of recharge of the main reservoir. There is a free-floating layer of the reservoir water on top of sea water up to a distance of 20 km south of the Mediterranean Sea. The majority of wells in the coastal plain depend on the water level in the main reservoir. The coastal water supply comes from water percolating through the coastal sand and water runoff from the south. This low salinity water is used for many purposes.


title: Economy of Egypt

text: Egypt's mineral and energy resources include petroleum, natural gas, phosphates, gold and iron ore. Crude oil is found primarily in the Gulf of Suez and in the Western Desert. Natural gas is found mainly in the Nile Delta, off the Mediterranean shore, and in the Western Desert. Oil and gas accounted for approximately 7% of GDP in fiscal year 2000–01.


title: Economy of Egypt

text: Export of petroleum and related products amounted to US$2.6 billion in the year 2000. In late 2001, Egypt's benchmark "Suez Blend" was about US$16.73 per barrel ($105/m³), the lowest price since 1999.


title: Economy of Egypt

text: Crude oil production has been in decline for several years since its peak level in 1993, from in 1993 to in 1997 and to in 2005. (See Figure). At the same time, the domestic consumption of oil increased steadily ( and in 1997 and 2005 respectively), but in 2008, oil consumption reached to . It is easy to see from the graph that a linear trend projects that domestic demand outpaced supply in (2008–2009), turning Egypt to a net importer of oil. To minimize this potential, the government of Egypt has been encouraging the exploration, production and domestic consumption of natural gas. Oil Production was in 2008, and natural gas output continued to increase and reached 48.3 billion cubic meters in 2008.


title: Economy of Egypt

text: Domestic resources meet only about 33% of Egypt's domestic demand, meaning large imports from Saudi Arabia, UAE and Iraq are necessary.


title: Economy of Egypt

text: Over the last 15 years, more than 180 petroleum exploration agreements have been signed and multinational oil companies spent more than US$27 billion in exploration companions. These activities led to the findings of about 18 crude oil fields and 16 natural gas fields in FY 2001. The total number of findings rose to 49 in FY 2005. As a result of these findings, crude oil reserves as of 2009 are estimated at , and proven natural gas reserves are 1.656 trillion cubic meters with likely additional discoveries with more exploration campaigns.


title: Economy of Egypt

text: In August 2007, it was announced that signs of oil reserves in Kom Ombo basin, about north of Aswan, was found and a concession agreement was signed with Centorion Energy International for drilling. The main natural gas producer in Egypt is the International Egyptian Oilfield Company (IEOC), a branch of Italian Eni. Other companies including BP, APA Corporation and Royal Dutch Shell carry out activities of exploration and production by means of concessions granted for a period of generally ample time (often 20 years) and in different geographic zones of oil and gas deposits in the country.


title: Economy of Egypt

text: Gold mining is more recently a fast-growing industry with vast untapped gold reserves in the Eastern Desert. To develop this nascent sector the Egyptian government took a first step by awarding mineral concessions, in what was considered the first international bid round. Two miners who have produced encouraging technical results include AngloGold Ashanti and Alexander Nubia International.


title: Economy of Egypt

text: Gold production facilities are now reality from the Sukari Hills, located close to Marsa Alam in the Eastern Desert. The concession of the mine was granted to Centamin, an Australian joint stock company, with a gold exploitation lease for a 160-square-kilometer area. Sami El-Raghy, Centamin chairman, has repeatedly stated that he believes Egypt's yearly revenues from gold in the future could exceed the total revenues from the Suez Canal, tourism and the petroleum industry.


title: Economy of Egypt

text: The Ministry of Petroleum and Mineral Resources has established expanding the Egyptian petrochemical industry and increasing exports of natural gas as its most significant strategic objectives and in 2009 about 38% of local gas production was exported.


title: Economy of Egypt

text: As of 2009, most Egyptian gas exports (approximately 70%) are delivered in the form of liquefied natural gas (LNG) by ship to Europe and the United States. Egypt and Jordan agreed to construct the Arab Gas Pipeline from Al Arish to Aqaba to export natural gas to Jordan; with its completion in July 2003, Egypt began to export of gas per year via pipeline as well. Total investment in this project is about $220 million. In 2003, Egypt, Jordan and Syria reached an agreement to extend this pipeline to Syria, which paves the way for a future connection with Turkey, Lebanon and Cyprus by 2010. As of 2009, Egypt began to export to Syria of gas per year, accounting for 20% of total consumption in Syria.


title: Economy of Egypt

text: In addition, the East Mediterranean Gas (EMG), a joint company established in 2000 and owned by Egyptian General Petroleum Corporation (EGPC) (68.4%), the private Israeli company Merhav (25%) as well as Ampal-American Israel Corp. (6.6%), has been granted the rights to export natural gas from Egypt to Israel and other locations in the region via underwater pipelines from Al 'Arish to Ashkelon which will provide Israel Electric Corporation (IEC) of gas per day. Gas supply started experimentally in the second half of 2007. As of 2008, Egypt produces about , from which Israel imports of account for about 2.7% of Egypt's total production of natural gas. According to a statement released on 24 March 2008, Merhav and Ampal's director, Nimrod Novik, said that the natural gas pipeline from Egypt to Israel can carry up to 9 billion cubic meters annually which sufficiently meet rising demand in Israel in the coming years.


title: Economy of Egypt

text: According to a memorandum of understanding, the commitment of Egypt is contracted for 15 years at a price below US$3 per million British thermal units, though this was renegotiated at a higher price in 2009 (to between US$4 and US$5 per million BTU), while the amounts of gas supplied were increased. Exporting natural gas to Israel faces broad popular opposition in Egypt.


title: Economy of Egypt

text: Agreements between Egypt and Israel allow for Israeli entities to purchase up to 7 billion cubic meters of Egyptian gas annually, making Israel one of Egypt's largest natural gas export markets. The decision to export of natural gas to Israel was passed in 1993 at the time when Dr. Hamdy Al-Bambi was Minister of Petroleum and when Mr. Amr Moussa was Minister of Foreign Affairs. The mandate to sign of the Memorandum of Understanding (MoU) to delegate to the Ministry of Petroleum represented by the Egyptian General Petroleum Company (EGPC) to contract with EMG Company was approved by the former Prime Minister Dr. Atef Ebeid in the Cabinet's meeting No. 68 on 5 July 2004 when he served as the acting "President of the Republic" when President Hosni Mubarak was receiving medical treatment in Germany.


title: Economy of Egypt

text: A new report by Strategic Foresight Group on the Cost of Conflict in the Middle East also details how in the event of peace an oil and gas pipeline from Port Said to Gaza to Lebanon would result in a transaction value for Egypt to the tune of $1–2 billion per year.


title: Economy of Egypt

text: As of June 2009, it was reported that Cairo said Israelis will dig for oil in Sinai. This report comes in the time in which the government is heavily criticized for exporting natural gas to Israel at an extremely low rate.


title: Economy of Egypt

text: Starting in 2014, the Egyptian government has been diverting gas supplies produced at home to its domestic market, reducing the volumes available for export in liquefied form. According to the memorandum of understanding, the Leviathan field off Israel's Mediterranean coast would supply 7 billion cubic meters annually for 15 years via an underwater pipeline. This equates to average volumes of 685 million cubic feet a day, the equivalent of just over 70% of the BG-operated Idku plant's daily volumes.


title: Economy of Egypt

text: In March 2015, BP Signed a $12 billion deal to develop natural gas in Egypt intended for sale in the domestic market starting in 2017.


title: Economy of Egypt

text: Irrigation plays a major role in a country the very livelihood of which depends upon a single river, the Nile. Most ambitious of all the irrigation projects is that of the Aswan High Dam, completed in 1971. A report published in March 1975 by the National Council for Production and Economic Affairs indicated that the dam had proved successful in controlling floodwaters and ensuring recurring water supply, but that water consumption had been more than needed and shall be controlled. Some precious land was lost below the dam because the flow of Nile silt was stopped, and increased salinity remains a major problem. Furthermore, five years of drought in the Ethiopia highlands—the source of the Nile River's water—caused the water level of Lake Nasser, the Aswan High Dam's reservoir, to drop to the lowest level in 1987.


title: Economy of Egypt

text: In 1996, the level of water behind the High Dam and in Lake Nasser reached the maximum level since the completion of the dam. Despite this unusual abundance of water supply, Egypt can only use 55.5 billion cu m (1.96 trillion cu ft) every year, according to the Nile Basin Agreement signed in 1959 between Egypt and Sudan. Another major project designed to address the water scarcity problem is the New Valley Project (the "second Nile"), aimed at development of the large artesian water supplies underlying the oases of the Western Desert.


title: Economy of Egypt

text: In 2010 Egypt's fertile area totaled about 3.6 million hectares (8.9 million acres), about one-quarter of which has been reclaimed from the desert after the construction of the Aswan High Dam. The government aims to increase this number to 4.8 million hectares by 2030 through additional land reclamation. Even though only 3 percent of the land is arable, it is extremely productive and can be cropped two or even three times annually. However, the reclaimed lands only add 7 percent to the total value of agricultural production. Surface irrigation is forbidden by law in reclaimed lands and is only used in the Nile Valley and the Delta, the use of pressurized irrigation and localized irrigation is compulsory in other parts of the country. Most land is cropped at least twice a year, but agricultural productivity is limited by salinity which in 2011 affected 25% of irrigated agriculture to varying degrees. This is mainly caused by insufficient drainage as well as seawater intrusion in aquifers as a result of over-extraction of groundwater, the latter primarily affects the Nile Delta. Thanks to the installation of drainage systems a reduction in salinized areas from about 1.2 million hectares in 1972 to 900 000 hectares in 2010 was achieved.


title: Economy of Egypt

text: In the 1970s, despite significant investment in land reclamation, agriculture lost its position as the leading economic sector. Agricultural exports, which were 87% of all merchandise export by value in 1960, fell to 35% in 1974 and to 11% by 2001. In 2000, agriculture accounted for 17% of the country's GDP and employed 34% of the workforce.


title: Economy of Egypt

text: According to 2016 statistics from the Food and Agriculture Organization of the United Nations, Egypt is the world's largest producer of dates; the second largest producer of figs; the third largest producer of onions and eggplants; the fourth largest producer of strawberries and buffalo milk as well as the fifth largest producer of tomatoes and watermelon.


title: Economy of Egypt

text: Cotton has long been a primary exported cash crop, but it is no longer vital as an export. Production in 1999 was 243,000 tons. Egypt is also a substantial producer of wheat, corn, sugarcane, fruit and vegetables, fodder, and rice; substantial quantities of wheat are also imported, especially from the United States and Russia, despite increases in yield since 1970, and significant quantities of rice are exported.


title: Economy of Egypt

text: Citrus, dates, and grapes are the main fruits by cultivated area. Agricultural output in tons in 1999 included corn, 9,350,000; wheat, 6,347,000; rice, 5,816,000; potatoes, 1,900,000; and oranges, 1,525,000. The government exercises a strong degree of control over agriculture, not only to ensure the best use of irrigation water but also to confine the planting of cotton in favor of food grains. However, the government's ability to achieve this objective is limited by crop rotational constraints.


title: Economy of Egypt

text: Cacti - especially cactus pears - are extensively grown throughout the country including Sinai, and extending into neighbouring countries. They are a crop of the Columbian Exchange. Cactus hedges - both intentionally planted and wild garden escapes - formed an important part of defensible positions during the Sinai and Palestine campaign of World War I. Some unfamiliar soldiers even tried eating them, to negative result.


title: Economy of Egypt

text: The agrarian reform law of 1952 provided that no one might hold more than 200 feddans, that is, (1 Egyptian feddan=0.42 hectares=1.038 acres), for farming, and that each landholder must either farm the land himself or rent it under specified conditions. Up to 100 additional feddans might be held if the owner had children, and additional land had to be sold to the government. In 1961, the upper limit of landholding was reduced to 100 feddans, and no person was allowed to lease more than 50 feddans. Compensation to the former owners was in bonds bearing a low rate of interest, redeemable within 40 years. A law enacted in 1969 reduced landholdings by one person to 50 feddans.


title: Economy of Egypt

text: By the mid-1980s, 90% of all land titles were for holdings of less than five feddans (), and about 300,000 families, or 8% of the rural population, had received land under the agrarian reform program. According to a 1990 agricultural census, there were some three million small land holdings, almost 96% of which were under five feddans. As these small landholdings restricted the ability of farmers to use modern machinery and agricultural techniques that improve and take advantage of economies of scale, there have since the late 1980s been many reforms attempting to deregulate agriculture by liberalizing input and output prices and eliminating crop area controls. As a result, the gap between world and domestic prices for Egyptian agricultural commodities has been closed.


title: Economy of Egypt

text: El Nasr Automotive Manufacturing Company is Egypt's state owned automobile company, founded in 1960 in Helwan, Egypt. Established in 1962, the company manufactures various vehicles under license from Zastava Automobili, Daimler AG, Kia, and Peugeot. Their current lineup consists of the Jeep Cherokee; the open-top, Wrangler-based Jeep AAV TJL; the Kia Spectra; the Peugeot 405; and the Peugeot 406.


title: Economy of Egypt

text: Other automobile manufacturers in Egypt include Arab American Vehicles, Egy-Tech Engineering, Ghabbour Group, WAMCO (Watania Automotive Manufacturing Company) and MCV. MCV was established in 1994 to represent Mercedes-Benz in the commercial vehicle sector in Egypt, producing a range of buses and trucks for domestic sale and for export throughout the Arab World, Africa, Latin America and Eastern Europe. The manufacturing plant in El Salheya employs c. 2500 people.


title: Economy of Egypt

text: Abu Qir Fertilizers Company is one of the largest producers of nitrogen fertilizers in Egypt and the MENA region. It accounts for nearly 50% of all nitrogen fertilizer production in Egypt. The company was established in 1976 with the construction of its first ammonia urea production facility, located in Abu Qir, 20 kilometers east of Alexandria. Egypt Basic Industries Corporation (EBIC) is also one of the largest producers of ammonia in the country.


title: Economy of Egypt

text: Olympic Group is the largest Egyptian company in the field of domestic appliances. The company mainly manufactures washing machines, air conditioners, refrigerators, electric water heaters and gas cookers.


title: Economy of Egypt

text: Bahgat Group is a leading company in the fields of electronics, home appliances, furniture and real estate. It also owns TV stations. The group is composed of the following companies: Egy Aircon, International Electronics Products, Electrical Home appliances, General Electronics and Trading, Goldi Trading, Goldi Servicing, Egy Medical, Egyptian Plastic Industry, Egy House, Egy Speakers, Egy Marble, Dreamland and Dream TV.


title: Economy of Egypt

text: In 2021 Egypt was ranked the 20th largest steel producing country with a production of 10.3 million tons. EZDK is the largest steel company in Egypt and the Middle East, today part of Ezz Industries. It owns four steel plants in Alexandria, Sadat, Suez and 10th of Ramadan. It was ranked 77th on the list of the world's largest steel companies by the World Steel Association in 2020, with a production of 4.57 million tons.


title: Economy of Egypt

text: Textiles and clothing is one of the largest manufacturing and exporting processes in the country and a huge employment absorber. The Egyptian apparel industry is attractive for two reasons. Firstly, its proximity to European markets, whose rapidly changing fashions require quick replenishment. Egypt's geographical proximity to style-conscious Europe is a logistical advantage. Secondly, the production of garments is a low-capital and high-labor-intensive industry, and the local population of 66 million provides a ready workforce as well as a natural local consumer market that acts as a springboard for exports.


title: Economy of Egypt

text: The textile industry contributes with one quarter of Egypt's non-oil export proceeds, with Cotton textiles comprising the bulk of Egypt's TC export basket. The public sector accounts for 90% of cotton spinning, 60% of fabric production and 30% of apparel production in Egypt. Misr Fine Spinning and Weaving is the largest enterprise of its kind in Africa and the Middle East. The private sector apparel industry is one of the most dynamic manufacturing processes in Egypt.


title: Economy of Egypt

text: The requirements of importers to Egypt of textiles and leather products were set out in the Egyptian Ministerial decrees 626/2011 and 660/2011. The Egyptian trade oversight agency, the General Organization for Export and Import Control (GOEIC), demanded in June 2012 that an inspection certificate accompany each shipment, unless the importer is pre-registered with the GOEIC. The Ministerial Decrees demand that imported goods certify their compliance with the mandatory quality and safety standards of Egypt.


title: Economy of Egypt

text: Arafa Holding is a global apparel manufacturer and retailer, operating through a strong vertically integrated platform at the local & international levels.


title: Economy of Egypt

text: Egypt suffered blackouts during the summer of 2014 that lasted for up to six hours per day. A rapid series of reforms cut energy subsidies, and Egypt quickly developed the Zohr gas field in the Mediterranean, which was discovered in 2015. The country now has an oversupply of electricity and aims to source 20% of its electricity from renewables by 2022 and 55% by 2050.


title: Economy of Egypt

text: Egypt and Cyprus are considering implementing the proposed EuroAfrica Interconnector project. This consists of laying a 2000 MW HVDC undersea power cable between them and between Cyprus and Greece, thus connecting Egypt to the greater European power grid. Interconnector will transform Egypt in electricity hub between Europe and Africa. President of Egypt Abdel Fattah el-Sisi, President of Cyprus Nicos Anastasiades and the Prime Minister of Greece Alexis Tsipras met in Nicosia on 21 November 2017 and showed their full support for the EuroAfrica Interconnector pointing out its importance for energy security of three countries.


title: Economy of Egypt

text: On 29 October 2007, Egypt's president, Hosni Mubarak gave the go-ahead for building several nuclear power plants. Egypt's nuclear route is purely peaceful and fully transparent, but faces technical and financing obstacles. Egypt is a member of the IAEA and has both signed and ratified the Nuclear Nonproliferation Treaty (NPT). Currently, a draft Law on Nuclear Energy is being reviewed by the IAEA and expected to be passed by the Egyptian Parliament. Many other countries in the region, including Libya, Jordan, UAE, Morocco, and Saudi Arabia aspire to build nuclear power plants.


title: Economy of Egypt

text: Orascom Construction Industries is a leading Egyptian EPC (engineering, procurement and construction) contractor, based in Cairo, Egypt and active in more than 20 countries. OCI was established in Egypt in 1938 and owned by Onsi Sawiris. It was nationalized in 1953 and then again de-nationalized in 1977. The company is the first multinational Egyptian corporation, and is one of the core Orascom Group companies. As a cement producer, OCI owned and operated cement plants in Egypt, Algeria, Turkey, Pakistan, northern Iraq and Spain, which had a combined annual production capacity of 21 million tons.


title: Economy of Egypt

text: The Talaat Moustafa Group (TMG), one of the largest conglomerates in Egypt, was founded by the former Talaat Moustafa and is headed by his son, Hisham Talaat Moustafa.


title: Economy of Egypt

text: The proposed new capital of Egypt is a large-scale project under construction since 2015, and was announced by then-Egyptian housing minister Moustafa Madbouly at the Egypt Economic Development Conference on 13 March 2015.


title: Economy of Egypt

text: New Alamein is another city that is currently being built in Egypt's north coast planned on an area of 48,000 feddans. New Alamein is one of the fourth generation cities being built in Egypt, and the first phase is scheduled to be concluded in a year.


title: Economy of Egypt

text: The banking sector has gone through many stages since the establishment of the first bank in 1856, followed by the emergence of private sector and joint venture banks during the period of the Open Door Policy in the 1970s. Moreover, the Egyptian banking sector has been undergoing reforms, privatization, and mergers and acquisitions from 1991 up to today.


title: Economy of Egypt

text: The banking system comprises 57 state-owned commercial banks. This includes 28 commercial banks, four of which are state-owned, 26 investment banks (11 joint venture banks and 15 branches of foreign banks), and three specialized banks. Although private and joint venture banks are growing, many remain relatively small with few branch networks. State-owned commercial banks still rank among the top lenders and play a dominant role in Egypt's banking sector. Over the past decades, European banks have been exiting Egypt's financial sector. For instance, France's Société Générale sold National Société Générale Bank to Qatar National Bank (QNB) in 2012 which has been rebranded as QNB Alahli.


title: Economy of Egypt

text: Egypt's banking system has undergone major reforms since the 1990s and today consumers are faced with a liberalized and modernized system which is supervised and regulated according to internationally accepted standards.


title: Economy of Egypt

text: Although the mortgage market is underdeveloped in Egypt and as yet foreigners cannot yet obtain a mortgage for a property in Egypt. In the near future, a new mortgage law will enable purchasers to take out property loans. This will open up the market considerably and create a storm of development and real estate activity in the near future.


title: Economy of Egypt

text: Egypt has long been the cultural and informational centre of the Arab world, and Cairo is the region's largest publishing and broadcasting centre.


title: Economy of Egypt

text: The telecommunications liberalisation process started in 1998 and is still ongoing, but at a slow pace. Private sector companies operate in mobile telephony, and Internet access. There were 10 million fixed phone lines, 31 million mobile phones, and 8.1 million Internet users by the August 2007.


title: Economy of Egypt

text: Transport in Egypt is centered around Cairo and largely follows the pattern of settlement along the Nile. The main line of the nation's railway network runs from Alexandria to Aswan and is operated by Egyptian National Railways. The road network has expanded rapidly to over , covering the Nile Valley and Nile Delta, Mediterranean and Red Sea coasts, the Sinai, and the Western oases.


title: Economy of Egypt

text: In addition to overseas routes, Egypt Air provides reliable domestic air service to major tourist destinations from its Cairo hub. The Nile River system (about .) and the principal canals (1,600 km.) are used for local transportation.


title: Economy of Egypt

text: The Suez Canal is a major waterway for international commerce and navigation, linking the Mediterranean and Red Sea. It is run by the Suez Canal Authority, headquartered in Port Said. The ministry of transportation, along with other governmental bodies are responsible for transportation in Egypt. Major ports are Alexandria, Port Said, and Damietta on the Mediterranean, and Suez, Ain Sokhna and Safaga on the Red Sea.


title: Economy of Egypt

text: The Egyptian tourism industry is one of the most important sectors in the economy, in terms of high employment and incoming foreign currency. It has many constituents of tourism, mainly historical attractions especially in Cairo, Luxor and Aswan, but also beach and other sea activities. The government actively promotes foreign tourism since it is a major source of currency and investment. The political instability since January 2011 caused a reduction in tourism, but the next year it was rising. In Upper Egypt, tourists that "provided one of the most important sources of income besides farming has dried out".


title: Economy of Egypt

text: Egypt's government announced the work on multiple projects within the tourism sector, most prominently the Grand Egyptian Museum. Set to open in June 2021, becoming the largest museum in the world.


title: Economy of Egypt

text: The Egyptian information and communications technology sector has been growing significantly since it was separated from the transportation sector. The market for telecommunications market was officially deregulated since the beginning of 2006 according to the WTO agreement signed in 2003.


title: Economy of Egypt

text: The government established ITIDA through Law 15 of the year 2004 as governmental entity. This agency aims at paving the way for the diffusion of the e-business services in Egypt capitalizing on different mandates of the authority as activating the Egyptian e-signature law and supporting an export-oriented IT sector in Egypt.


title: Economy of Egypt

text: While the move could open the market for new entrants, add and improve the infrastructure for its network, and in general create a competitive market, the fixed line market is de facto monopolized by Telecom Egypt.


title: Economy of Egypt

text: The cellular phone market was a duopoly with prices artificially high but witnessed in the past couple of years the traditional price war between the incumbents Mobinil and Vodafone. A 500 minutes outbound local and long-distance calling plan currently costs approximately US$30 as compared to approximately US$90 in 2005. While the current price is not so expensive, it is still above the international price as plans never allow "unlimited night & weekend minutes."


title: Economy of Egypt

text: A third GSM 3.5G license was awarded in April 2006 for US$3 billion to a consortium led by the UAE company Eitesalat (66%), Egypt Post (20%), the National Bank of Egypt (NBE) (10%), and the NBE's Commercial International Bank (4%), thus moving the market from duopoly to oligopoly.


title: Economy of Egypt

text: On 24 September 2006, the National Telecommunication Regulatory Authority (NTRA) announced a license award to Egyptian-Arab private sector consortium of companies to extend a maritime cable for international traffic. The US$120 million cable project will serve the Gulf region and south Europe. The construction of the cable should decrease the currently high international call costs and increase domestic demand on internet broadband services, in importantly increase exports of international telecommunication services of Egyptian companies, mostly in the Smart Village.


title: Economy of Egypt

text: It is expected that NTRA will award two licenses for international gateways using open technology and deploy WiMax technology enabling the delivery of last-mile wireless broadband access as an alternative to ADSL.


title: Economy of Egypt

text: The main barrier to growth for Egypt's ICT sector is the monopoly of telecommunication corporations and quarreling workforce.


title: Economy of Egypt

text: In 2009, three Egyptian companies were listed in the Forbes Global 2000 list – an annual ranking of the top 2000 public companies in the world by Forbes magazine. These companies were:


title: Economy of Egypt

text: The stock market capitalisation of listed companies in Egypt was valued at $79.672 billion in 2005 by the World Bank dropping to $58 billion in 2012.


title: Economy of Egypt

text: The Egyptian equity market is one of the most developed in the region with more than 633 listed companies. Market capitalization on the exchange doubled in 2005 from US$47.2 billion to US$93.5 billion in 2006, peaking at US$139 billion in 2007. Subsequently, it has fallen to US$58 billion in 2012, with turnover surging from US$1.16 billion in January 2005 to US$6 billion in January 2006.


title: Economy of Egypt

text: Private equity has not been widely used in Egypt in the past as a source of funding for businesses. The government, however, has instituted a number of policy changes and reforms specifically intended to develop internal private equity funds and to attract private equity funding from international sources.


title: Economy of Egypt

text: The major industries include textiles, hydrocarbon and chemical production, and generic pharmaceutical production. Unemployment is high at about 10.5%.


title: Economy of Egypt

text: Until 2003, the Egyptian economy suffered from shortages in foreign currency and excessively elevated interest rates. A series of budget reforms were conducted to redress weaknesses in Egypt's economic environment and to boost private sector involvement and confidence in the economy.


title: Economy of Egypt

text: Major fiscal reforms were introduced in 2005 to tackle the informal sector which according to estimates represents somewhere between 30% to 60% of GDP. Significant tax cuts for corporations were introduced for the first time in Egyptian history. The new Income tax Law No 91 for 2005 reduced the tax rate from 40% to 20%. According to government figures, tax filing by individuals and corporations increased by 100%.


title: Economy of Egypt

text: Many changes were made to cut trade tariffs. Among the legislators' goals were tackling the Black Market, reducing bureaucracy and pushing through trade liberalization measures. Amendments to Investment and Company law were introduced to attract foreign investors. For example, the number of days required for establishing a company was dramatically reduced.


title: Economy of Egypt

text: Significant improvement to the domestic economic environment increased investors' confidence in Egypt. The Cairo & Alexandria Stock Exchange is considered among the best ten emerging markets in the world. The changes to the policy also attracted increased levels of foreign direct investment in Egypt. According to the UN Conference on Trade and Development's World Investment Report, Egypt was ranked the largest country in attracting foreign investment in Africa.


title: Economy of Egypt

text: Given the large number of amendments to laws and regulations, Egypt has succeeded to a certain extent in conforming to international standards. Very recently the Cairo & Alexandria Stock Exchange (CASE) was welcomed with full membership into the World Federation of Exchanges (WFE)—the first Arab country to be invited.


title: Economy of Egypt

text: Enforcement of these newly adopted regulatory frameworks remain, sometime problematic. Problems like corruption hamper economic development in Egypt. Many scandals involving bribery were reported during the past years. "In 2002 alone, as many as 48 high-ranking officials—including former cabinet ministers, provincial governors and MPs were convicted of influence peddling, profiteering and embezzlement. Maintaining good relations with politicians is sometimes a key to business success in Egypt. On a scale from 0 to 10 (with 0 being highly corrupt), Egypt scored a 3.3.”


title: Economy of Egypt

text: According to a study by the International Organization for Migration, 20% of Egyptian remittance-receiving households interviewed channelled the remittances towards various forms of investment, while the large majority (80%) was more concerned about using remittances for meeting the daily needs of their families including spending on health care and education. Among the 20% of households that decided to invest, 39% invested in real estate, 22% invested in small businesses employing fewer than five people and the smallest proportions of investors (6%) invested in medium private business employing no more than 20 people. According to Egypt's Human Development Report 2008, despite representing approximately 5% of GDP, remittances provided the initial capital for only 1.4% of newly established small and medium enterprises in Egypt in 2003–2004.


title: Economy of Egypt

text: The challenges of the global food crisis followed by challenges of the global financial crisis made room for more integrated policy reforms. Considering the massive economic measures that have been taken over the past 12 months or so, Egyptian economic policymakers score high based on the inside lag, i.e. the lapse of time between the moment that the shock began to affect the economy and the moment that economic (monetary and fiscal) policy as well as the regulatory policy are altered and put into effect in response to the shock to various markets: goods market (real GDP), the labor market (unemployment rate), money market (interest rate and inflation), and the financial (stock and bond) market. Indeed, moderate financial panic occurred driven—at least partially—by the fear that other investors are about to panic and sell. There were falls in stock and bond market prices, and rises in nominal interest rates.


title: Economy of Egypt

text: Egypt has a population of about 97 million, with the population concentrated within a region on either side of the Nile River. The majority of the population is employed in the services sector, followed by agriculture and industrial production. Approximately one-third of Egyptian labour is engaged directly in farming, and many others work in the processing or trading of agricultural products.


title: Economy of Egypt

text: Unemployment rate increased from 10.3% in FY2004 to 11.2% in 2005. The average rate of growth of employment in the publicly owned enterprises sector was −2% per year between FY1998 and FY2005 as a result of aggressive privatization program. On the other hand, private sector employment grew at an average rate of 3% over that period. In addition, the government sector employment grew by almost double the rate of the private sector over the same period.


title: Economy of Egypt

text: In general, the average weekly wage in the private sector is, in many instances, higher than that of the public sector. In some other instances, e.g. whole sale and retail trades, the weekly wage is lower by half of that in the public sector.


title: Economy of Egypt

text: As a result of the weakness role of the Ministry of Manpower and Trade Unions to create a balance between the rights of workers and the interests of owners of companies in the private sector, privatization has led to worsening employment problems and deterioration in their working environment and health, and many workers have recently resorted to strike and picketing.


title: Economy of Egypt

text: In an effort to quell discontent over rising food prices, Egypt offered government and public sector workers a pay rise of up to 30%. The offer came on the May day speech delivered by President Mubarak to the Egyptian General Federation of Trade Unions.


title: Economy of Egypt

text: "We must go in dealing with the current global (food) crisis, on two basic tracks (1) we must strengthen the food security of our low-income people, (2) we must achieve a balance between wages and prices." President Mubarak said.


title: Economy of Egypt

text: The pay rise originally proposed in the government budget ranged between 15%–20%, but the decision to double it was given on heightened worries that widespread anger over prices could lead to a social explosion. The pay rise is initiated immediately, rather than waiting for the start of the new fiscal year on 1 July 2008 and is to be financed from real resources.


title: Economy of Egypt

text: While the headline CPI inflation rate was 15.8% (17.6% in rural areas, 14.4% in urban areas) in March 2008, the overall food price inflation rate was 23.7% (26.9% in rural areas, 20.5% in urban areas). Moreover, in April 2008 in urban areas, the headline CPI inflation rate reached 16.4% while food price inflation rate was 22.0%. This underlines the statement in that "the inflation rate as measured by the headline CPI does not concern the poor and low-income people, who are the majority of people in rural and urban Egypt, since they spend most of their income on food." Approximately 55 million poor and low-income citizens, representing about 75% of the population, are currently enrolled in food ration cards.


title: Economy of Egypt

text: In April 2009 it was reported that Egypt feared the return of 500,000 Egyptian laborers working in the Gulf states.


title: Economy of Egypt

text: In May 2019, CAPMAS reported that the annual urban consumer price inflation of Egypt has been eased to 13% in April from 14.2% in March.


title: Economy of Egypt

text: The Minister of Economic Development, Othman Mohamed Othman, once mentioned that the poverty rate in Egypt had risen from 19 percent of the population in 2005 to 21 percent in 2009. In 2010–2011, the poverty rate in Egypt had risen to 25% of the population.


title: Economy of Egypt

text: According to the 2005 Household Income, Expenditure and Consumption Survey (HIECS), estimated per capita poverty lines vary across the regions. Data from a World Bank and Ministry of Economic Development poverty assessment based on comparisons between actual expenditures (and the cost of a consumption basket securing 2470 calories per day per person), shows that individual Egyptians who spent less than per year in 2005 are considered extreme poor, those who spent less than per year are poor and those who spent less than per year are near poor.


title: Economy of Egypt

text: Poverty has a strong regional dimension in Egypt and concentrates in Upper Egypt, both urban (18.6%) and rural (39.1), while metropolitan areas are the least poor (5.7%). The government is currently employing recently completed poverty map as tool for geographic targeting of public resources.


title: Economy of Egypt

text: According to a report published by the World Bank in April 2019, 60% population of the country is "either poor or vulnerable". Egypt's national poverty rate was 24.3% in 2010 and moved up to around 30% by 2015. According to the 2019 Global Hunger Index, Egypt suffers from a moderate level of hunger, ranking 61 of 117 countries, compared to 61 of 119 countries in 2018. Food affordability, quality and safety remain challenges as Egypt continues to rely on global markets for more than half of its staples.


title: Economy of Egypt

text: According to Rapid Assessment surveys conducted by the World Bank Group in 2011 and 2012, business managers rank informal gifts or payments, anticompetitive practices and regulatory policy uncertainty high on the list of obstacles to creating and growing a business. In addition, the amount of paperwork required for construction, imports, and exports is burdensome and the time for the government to process this paperwork is lengthy. Traders need to submit eight documents to export and ten to import—as opposed to France, for example, where only 2 documents are needed both for imports and exports. Additionally, there is no bankruptcy law in Egypt and entrepreneurs who fail to repay their debts can face prison.


title: Economy of Egypt

text: Egypt's fertility rate has dramatically declined since the 1960s (6.6 children per woman) to about 3.2 children per woman in 2021 but is still considered fairly high. Egypt's population grew from 44 million in 1981 to more than 106 million today.


title: Economy of Egypt

text: Businesses having more informal connections within the government receive preferable treatment navigating through Egypt's cumbersome regulatory framework, providing a disincentive for competition. An inefficient and sporadically enforced legal system and a widespread culture of corruption leave businesses reliant on the use of middlemen (known as wasta) to operate, and well-connected businesses enjoy privileged treatment. Facilitation payments are an established part of 'getting things done', despite irregular payments and gifts being criminalized. Egypt is the 117 least corrupt nation out of 175 countries, according to the 2017 Corruption Perceptions Index reported by Transparency International. Corruption Rank in Egypt averaged 86.48 from 1996 until 2017, reaching an all-time high of 118 in 2012 and a record low of 41 in 1996. Facilitation payments are regarded as bribery in many countries, which prevents many foreign entities from financial involvement with Egypt since they are a required part of doing business. Corruption makes the costs of both local goods as well as imports higher, decreasing the purchasing power of individuals which magnifies poverty.


title: Economy of Egypt

text: The country lacks sustainable pragmatic policies to combat poverty. Although these policies were adopted in an attempt to reduce economic burdens on the poor, they benefited the rich more which caused more problems to the poor and increased the burdens of the government. In fact, 83 percent of food subsidy, 76 percent of electricity subsidy, 87 percent of petroleum subsidy and 76 percent of the social safety net subsidy went to the non-poor instead of the poor.


title: Economy of Egypt

text: The failure in efficiently using the past bailout by the IMF has landed Egypt again in the same economic condition in August 2022 where it started. Egypt sought for a new loan from the International Monetary Fund (IMF) in August 2022, in order to deal with the fallout from sudden surge in prices, impacting the economic rights of the Egyptian people devastatingly. In July 2022, President Abdel Fattah al-Sisi requested his European allies to back him up in convincing the international financial institutions (IFI), including the IMF that the “situation in our country does not tolerate the applicable standards at this stage”, raising questions about what standards did he mean. Meanwhile, Sisi has been criticized for historically introducing economic policies that majorly benefited the elite, instead of protecting the public from the crisis. The Human Rights Watch demanded that IMF consider the human rights record of the Sisi regime as well as the failure of efficiently using the bailout funds by the IMF and other institutions.


title: Aerosol

text: An aerosol is a suspension of fine solid particles or liquid droplets in air or another gas. Aerosols can be natural or anthropogenic. Examples of natural aerosols are fog or mist, dust, forest exudates, and geyser steam. Examples of anthropogenic aerosols include particulate air pollutants, mist from the discharge at hydroelectric dams, irrigation mist, perfume from atomizers, smoke, steam from a kettle, sprayed pesticides, and medical treatments for respiratory illnesses. When a person inhales the contents of a vape pen or e-cigarette, they are inhaling an anthropogenic aerosol.


title: Aerosol

text: The liquid or solid particles in an aerosol have diameters typically less than 1 μm (larger particles with a significant settling speed make the mixture a suspension, but the distinction is not clear-cut). In general conversation, "aerosol" often refers to a dispensing system that delivers a consumer product from a can.


title: Aerosol

text: Aerosol is defined as a suspension system of solid or liquid particles in a gas. An aerosol includes both the particles and the suspending gas, which is usually air. Meteorologists usually refer them as particle matter - PM2.5 or PM10, depending on their size. Frederick G. Donnan presumably first used the term "aerosol" during World War I to describe an aero-solution, clouds of microscopic particles in air. This term developed analogously to the term hydrosol, a colloid system with water as the dispersed medium. "Primary aerosols" contain particles introduced directly into the gas; "secondary aerosols" form through gas-to-particle conversion.


title: Aerosol

text: Key aerosol groups include sulfates, organic carbon, black carbon, nitrates, mineral dust, and sea salt, they usually clump together to form a complex mixture. Various types of aerosol, classified according to physical form and how they were generated, include dust, fume, mist, smoke and fog.


title: Aerosol

text: There are several measures of aerosol concentration. Environmental science and environmental health often use the "mass concentration" ("M"), defined as the mass of particulate matter per unit volume, in units such as μg/m. Also commonly used is the "number concentration" ("N"), the number of particles per unit volume, in units such as number per m or number per cm.


title: Aerosol

text: Particle size has a major influence on particle properties, and the aerosol particle radius or diameter ("d") is a key property used to characterise aerosols.


title: Aerosol

text: Aerosols vary in their dispersity. A "monodisperse" aerosol, producible in the laboratory, contains particles of uniform size. Most aerosols, however, as "polydisperse" colloidal systems, exhibit a range of particle sizes. Liquid droplets are almost always nearly spherical, but scientists use an "equivalent diameter" to characterize the properties of various shapes of solid particles, some very irregular. The equivalent diameter is the diameter of a spherical particle with the same value of some physical property as the irregular particle. The "equivalent volume diameter" ("d") is defined as the diameter of a sphere of the same volume as that of the irregular particle. Also commonly used is the aerodynamic diameter,  "d".


title: Aerosol

text: For a monodisperse aerosol, a single number—the particle diameter—suffices to describe the size of the particles. However, more complicated particle-size distributions describe the sizes of the particles in a polydisperse aerosol. This distribution defines the relative amounts of particles, sorted according to size. One approach to defining the particle size distribution uses a list of the sizes of every particle in a sample. However, this approach proves tedious to ascertain in aerosols with millions of particles and awkward to use. Another approach splits the size range into intervals and finds the number (or proportion) of particles in each interval. These data can be presented in a histogram with the area of each bar representing the proportion of particles in that size bin, usually normalised by dividing the number of particles in a bin by the width of the interval so that the area of each bar is proportionate to the number of particles in the size range that it represents. If the width of the bins tends to zero, the frequency function is:


title: Aerosol

text: Therefore, the area under the frequency curve between two sizes a and "b" represents the total fraction of the particles in that size range:


title: Aerosol

text: Assuming spherical aerosol particles, the aerosol surface area per unit volume ("S") is given by the second moment:


title: Aerosol

text: The particle size distribution can be approximated. The normal distribution usually does not suitably describe particle size distributions in aerosols because of the skewness associated with a long tail of larger particles. Also for a quantity that varies over a large range, as many aerosol sizes do, the width of the distribution implies negative particles sizes, which is not physically realistic. However, the normal distribution can be suitable for some aerosols, such as test aerosols, certain pollen grains and spores.


title: Aerosol

text: The log-normal distribution has no negative values, can cover a wide range of values, and fits many observed size distributions reasonably well.


title: Aerosol

text: Other distributions sometimes used to characterise particle size include: the Rosin-Rammler distribution, applied to coarsely dispersed dusts and sprays; the Nukiyama–Tanasawa distribution, for sprays of extremely broad size ranges; the power function distribution, occasionally applied to atmospheric aerosols; the exponential distribution, applied to powdered materials; and for cloud droplets, the Khrgian–Mazin distribution.


title: Aerosol

text: For low values of the Reynolds number (<1), true for most aerosol motion, Stokes' law describes the force of resistance on a solid spherical particle in a fluid. However, Stokes' law is only valid when the velocity of the gas at the surface of the particle is zero. For small particles (< 1 μm) that characterize aerosols, however, this assumption fails. To account for this failure, one can introduce the Cunningham correction factor, always greater than 1. Including this factor, one finds the relation between the resisting force on a particle and its velocity:


title: Aerosol

text: This allows us to calculate the terminal velocity of a particle undergoing gravitational settling in still air. Neglecting buoyancy effects, we find:


title: Aerosol

text: The terminal velocity can also be derived for other kinds of forces. If Stokes' law holds, then the resistance to motion is directly proportional to speed. The constant of proportionality is the mechanical mobility ("B") of a particle:


title: Aerosol

text: A particle traveling at any reasonable initial velocity approaches its terminal velocity exponentially with an "e"-folding time equal to the relaxation time:


title: Aerosol

text: To account for the effect of the shape of non-spherical particles, a correction factor known as the "dynamic shape factor" is applied to Stokes' law. It is defined as the ratio of the resistive force of the irregular particle to that of a spherical particle with the same volume and velocity:


title: Aerosol

text: The aerodynamic diameter of an irregular particle is defined as the diameter of the spherical particle with a density of 1000 kg/m and the same settling velocity as the irregular particle.


title: Aerosol

text: Neglecting the slip correction, the particle settles at the terminal velocity proportional to the square of the aerodynamic diameter, "d":


title: Aerosol

text: One can apply the aerodynamic diameter to particulate pollutants or to inhaled drugs to predict where in the respiratory tract such particles deposit. Pharmaceutical companies typically use aerodynamic diameter, not geometric diameter, to characterize particles in inhalable drugs.


title: Aerosol

text: The previous discussion focused on single aerosol particles. In contrast, "aerosol dynamics" explains the evolution of complete aerosol populations. The concentrations of particles will change over time as a result of many processes. External processes that move particles outside a volume of gas under study include diffusion, gravitational settling, and electric charges and other external forces that cause particle migration. A second set of processes internal to a given volume of gas include particle formation (nucleation), evaporation, chemical reaction, and coagulation.


title: Aerosol

text: A differential equation called the "Aerosol General Dynamic Equation" (GDE) characterizes the evolution of the number density of particles in an aerosol due to these processes.


title: Aerosol

text: Change in time = Convective transport + brownian diffusion + gas-particle interactions + coagulation + migration by external forces


title: Aerosol

text: As particles and droplets in an aerosol collide with one another, they may undergo coalescence or aggregation. This process leads to a change in the aerosol particle-size distribution, with the mode increasing in diameter as total number of particles decreases. On occasion, particles may shatter apart into numerous smaller particles; however, this process usually occurs primarily in particles too large for consideration as aerosols.


title: Aerosol

text: The Knudsen number of the particle define three different dynamical regimes that govern the behaviour of an aerosol:


title: Aerosol

text: where formula_39 is the mean free path of the suspending gas and formula_40 is the diameter of the particle. For particles in the "free molecular regime", "K" » 1; particles small compared to the mean free path of the suspending gas. In this regime, particles interact with the suspending gas through a series of "ballistic" collisions with gas molecules. As such, they behave similarly to gas molecules, tending to follow streamlines and diffusing rapidly through Brownian motion. The mass flux equation in the free molecular regime is:


title: Aerosol

text: where "a" is the particle radius, "P" and "P" are the pressures far from the droplet and at the surface of the droplet respectively, "k" is the Boltzmann constant, "T" is the temperature, "C" is mean thermal velocity and "α" is mass accommodation coefficient. The derivation of this equation assumes constant pressure and constant diffusion coefficient.


title: Aerosol

text: Particles are in the "continuum regime" when K « 1. In this regime, the particles are big compared to the mean free path of the suspending gas, meaning that the suspending gas acts as a continuous fluid flowing round the particle. The molecular flux in this regime is:


title: Aerosol

text: where "a" is the radius of the particle "A", "M" is the molecular mass of the particle "A", "D" is the diffusion coefficient between particles "A" and "B", "R" is the ideal gas constant, "T" is the temperature (in absolute units like kelvin), and "P" and "P" are the pressures at infinite and at the surface respectively.


title: Aerosol

text: The "transition regime" contains all the particles in between the free molecular and continuum regimes or "K" ≈ 1. The forces experienced by a particle are a complex combination of interactions with individual gas molecules and macroscopic interactions. The semi-empirical equation describing mass flux is:


title: Aerosol

text: where "I" is the mass flux in the continuum regime. This formula is called the Fuchs-Sutugin interpolation formula. These equations do not take into account the heat release effect.


title: Aerosol

text: Aerosol partitioning theory governs condensation on and evaporation from an aerosol surface, respectively. Condensation of mass causes the mode of the particle-size distributions of the aerosol to increase; conversely, evaporation causes the mode to decrease. Nucleation is the process of forming aerosol mass from the condensation of a gaseous precursor, specifically a vapor. Net condensation of the vapor requires supersaturation, a partial pressure greater than its vapor pressure. This can happen for three reasons:


title: Aerosol

text: There are two types of nucleation processes. Gases preferentially condense onto surfaces of pre-existing aerosol particles, known as heterogeneous nucleation. This process causes the diameter at the mode of particle-size distribution to increase with constant number concentration. With sufficiently high supersaturation and no suitable surfaces, particles may condense in the absence of a pre-existing surface, known as homogeneous nucleation. This results in the addition of very small, rapidly growing particles to the particle-size distribution.


title: Aerosol

text: Water coats particles in aerosols, making them "activated", usually in the context of forming a cloud droplet (such as natural cloud seeding by aerosols from trees in a forest). Following the Kelvin equation (based on the curvature of liquid droplets), smaller particles need a higher ambient relative humidity to maintain equilibrium than larger particles do. The following formula gives relative humidity at equilibrium:


title: Aerosol

text: where formula_45 is the saturation vapor pressure above a particle at equilibrium (around a curved liquid droplet), "p" is the saturation vapor pressure (flat surface of the same liquid) and "S" is the saturation ratio.


title: Aerosol

text: where "r" droplet radius, "σ" surface tension of droplet, "ρ" density of liquid, "M" molar mass, "T" temperature, and "R" molar gas constant.


title: Aerosol

text: There are no general solutions to the general dynamic equation (GDE); common methods used to solve the general dynamic equation include:


title: Aerosol

text: Stability of nanoparticle agglomerates is critical for estimating size distribution of aerosolized particles from nano-powders or other sources. At nanotechnology workplaces, workers can be exposed via inhalation to potentially toxic substances during handling and processing of nanomaterials. Nanoparticles in the air often form agglomerates due to attractive inter-particle forces, such as van der Waals force or electrostatic force if the particles are charged. As a result, aerosol particles are usually observed as agglomerates rather than individual particles. For exposure and risk assessments of airborne nanoparticles, it is important to know about the size distribution of aerosols. When inhaled by humans, particles with different diameters are deposited in varied locations of the central and periphery respiratory system. Particles in nanoscale have been shown to penetrate the air-blood barrier in lungs and be translocated into secondary organs in the human body, such as the brain, heart and liver. Therefore, the knowledge on stability of nanoparticle agglomerates is important for predicting the size of aerosol particles, which helps assess the potential risk of them to human bodies.


title: Aerosol

text: Different experimental systems have been established to test the stability of airborne particles and their potentials to deagglomerate under various conditions. A comprehensive system recently reported is able to maintain robust aerosolization process and generate aerosols with stable number concentration and mean size from nano-powders. The deagglomeration potential of various airborne nanomaterials can be also studied using critical orifices. In addition, an impact fragmentation device was developed to investigate bonding energies between particles.


title: Aerosol

text: A standard deagglomeration testing procedure could be foreseen with the developments of the different types of existing systems. The likeliness of deagglomeration of aerosol particles in occupational settings can be possibly ranked for different nanomaterials if a reference method is available. For this purpose, inter-laboratory comparison of testing results from different setups could be launched in order to explore the influences of system characteristics on properties of generated nanomaterials aerosols.


title: Aerosol

text: Particles can deposit in the nose, mouth, pharynx and larynx (the head airways region), deeper within the respiratory tract (from the trachea to the terminal bronchioles), or in the alveolar region. The location of deposition of aerosol particles within the respiratory system strongly determines the health effects of exposure to such aerosols. This phenomenon led people to invent aerosol samplers that select a subset of the aerosol particles that reach certain parts of the respiratory system. Examples of these subsets of the particle-size distribution of an aerosol, important in occupational health, include the inhalable, thoracic, and respirable fractions. The fraction that can enter each part of the respiratory system depends on the deposition of particles in the upper parts of the airway. The inhalable fraction of particles, defined as the proportion of particles originally in the air that can enter the nose or mouth, depends on external wind speed and direction and on the particle-size distribution by aerodynamic diameter. The thoracic fraction is the proportion of the particles in ambient aerosol that can reach the thorax or chest region. The respirable fraction is the proportion of particles in the air that can reach the alveolar region. To measure the respirable fraction of particles in air, a pre-collector is used with a sampling filter. The pre-collector excludes particles as the airways remove particles from inhaled air. The sampling filter collects the particles for measurement. It is common to use cyclonic separation for the pre-collector, but other techniques include impactors, horizontal elutriators, and large pore membrane filters.


title: Aerosol

text: Two alternative size-selective criteria, often used in atmospheric monitoring, are PM and PM. PM is defined by ISO as "particles which pass through a size-selective inlet with a 50% efficiency cut-off at 10 μm aerodynamic diameter" and PM as "particles which pass through a size-selective inlet with a 50% efficiency cut-off at 2.5 μm aerodynamic diameter". PM corresponds to the "thoracic convention" as defined in ISO 7708:1995, Clause 6; PM corresponds to the "high-risk respirable convention" as defined in ISO 7708:1995, 7.1. The United States Environmental Protection Agency replaced the older standards for particulate matter based on Total Suspended Particulate with another standard based on PM in 1987 and then introduced standards for PM (also known as fine particulate matter) in 1997.


title: Aerosol

text: Several types of atmospheric aerosol have a significant effect on Earth's climate: volcanic, desert dust, sea-salt, that originating from biogenic sources and human-made. Volcanic aerosol forms in the stratosphere after an eruption as droplets of sulfuric acid that can prevail for up to two years, and reflect sunlight, lowering temperature. Desert dust, mineral particles blown to high altitudes, absorb heat and may be responsible for inhibiting storm cloud formation. Human-made sulfate aerosols, primarily from burning oil and coal, affect the behavior of clouds.


title: Aerosol

text: Although all hydrometeors, solid and liquid, can be described as aerosols, a distinction is commonly made between such dispersions (i.e. clouds) containing activated drops and crystals, and aerosol particles. The atmosphere of Earth contains aerosols of various types and concentrations, including quantities of:


title: Aerosol

text: The presence of aerosols in the earth's atmosphere can influence its climate, as well as human health.


title: Tithe

text: A tithe (; from Old English: "teogoþa" "tenth") is a one-tenth part of something, paid as a contribution to a religious organization or compulsory tax to government. Today, tithes are normally voluntary and paid in cash or cheques or more recently via online giving, whereas historically tithes were required and paid in kind, such as agricultural produce. After the separation of church and state, church tax linked to the tax system are instead used in many countries to support their national church. Donations to the church beyond what is owed in the tithe, or by those attending a congregation who are not members or adherents, are known as offerings, and often are designated for specific purposes such as a building program, debt retirement, or mission work.


title: Tithe

text: Many Christian denominations hold Jesus taught that tithing must be done in conjunction with a deep concern for "justice, mercy and faithfulness" (cf. Matthew 23:23). Tithing was taught at early Christian church councils, including the Council of Tours in 567, as well as the Third Council of Mâcon in 585. Tithing remains an important doctrine in many Christian denominations, such as the Congregationalist Churches, Methodist Churches and Seventh-day Adventist Church. Some Christian Churches, such as those in the Methodist tradition, teach the concept of "Storehouse Tithing", which emphasizes that tithes must be prioritized and given to the local church, before offerings can be made to apostolates or charities.


title: Tithe

text: Traditional Jewish law and practice has included various forms of tithing since ancient times. Orthodox Jews commonly practice "ma'aser kesafim" (tithing 10% of their income to charity). In modern Israel, some religious Jews continue to follow the laws of agricultural tithing, e.g., "ma'aser rishon", "terumat ma'aser", and "ma'aser sheni".


title: Tithe

text: Lycurgus (8th BCE) wrote: ""I will not hold life dearer than freedom nor will I abandon my leaders whether they are alive or dead. I will bury all allies killed in the battle. If I conquer the barbarians in war I will not destroy any of the cities which have fought for Greece but I will consecrate a tenth of all those which sided with the barbarian. I will not rebuild a single one of the shrines which the barbarians have burnt and razed but will allow them to remain for future generations as a memorial of the barbarians' impiety.”"


title: Tithe

text: Herodotus (484–425 BCE) wrote: "" Have men of your guard watch all the gates; let them take the spoil from those who are carrying it out, and say that it must be paid as a tithe to Zeus. "" ""In truth there is no need to ascribe to her very great riches, considering that the tithe of her wealth may still be seen even to this time by any one who desires it: For Rhodopis desired to leave a memorial of herself in Greece, by having something made which no one else had contrived and dedicated in a temple and presenting this at Delphi to preserve her memory; so she spent the tenth part of her substance on the making of a great number of iron ox-spits, as many as the tithe would pay for, and sent them to Delphi;"" ""The tenth part of the ransom also they dedicated for an offering, and made of it a four-horse chariot of bronze, which stands on the left hand as you enter the Propylaia in the Acropolis, and on it is the following inscription": ""Athens’ bold Sons, what time in glorious Fight They quelled Boeotian and Chalcidian Might, In Chains and Darkness did its Pride enslave; As Ransom’s Tithe these Steeds to Pallas gave."" ""that the Phocians made themselves masters of four thousand dead, and their shields, whereof they dedicated half at Abae and the rest at Delphi; a tithe of what they won in that fight went to the making of the great statues that stand round the tripod before the shrine at Delphi, and there are others like them dedicated at Abae."" ""Then having brought the things together, and having set apart a tithe for the god of Delphi, with which the offering was dedicated of the golden tripod which rests upon the three-headed serpent of bronze and stands close by the altar, and also for the god at Olympia, with which they dedicated the offering of a bronze statue of Zeus ten cubits high, and finally for the god at the Isthmus, with which was made a bronze statue of Poseidon seven cubits high,—having set apart these things, they divided the rest, and each took that which they ought to have, including the concubines of the Persians and the gold and the silver and the other things, and also the beasts of burden. "" ""And the people of Siphnos were then at their greatest height of prosperity and possessed wealth more than all the other islanders, since they had in their island mines of gold and silver, so that there is a treasury dedicated at Delphi with the tithe of the money which came in from these mines, and furnished in a manner equal to the wealthiest of these treasuries: and the people used to divide among themselves the money which came in from the mines every year."" ""And the Samians set apart six talents, the tenth part of their gains, and had a bronze vessel made like an Argolic mixing-bowl with round it heads of griffins projecting in a row; and this they dedicated as an offering in the temple of Hera, setting as supports under it three colossal statues of bronze seven cubits in height, resting upon their knees.""


title: Tithe

text: Aristophanes (446-386 BCE) wrote: ""These are my own special tricks. I will denounce you to the Prytanes as the owner of sacred tripe, that has not paid tithe.""


title: Tithe

text: Lysias (445-380 BCE) wrote: ""And I escaped to Catana, I used that town as a base for depredations by which I harried the enemy, so that from the spoil more than thirty minae were apportioned as the tithe for the goddess and enough to deliver all the soldiers who were in the hands of the enemy.""


title: Tithe

text: Andocides (440-390 BCE) wrote: ""If anyone shall suppress the democracy at Athens or hold public office after its suppression, he shall become a public enemy and be slain with impunity; his goods shall be confiscated and a tithe given to the Goddess.""