My Teenage Life in Egypt

E G Y P T

Egyptian Economy and Politics

E gypt has the second-largest economy in the Arab world. Only Saudi Arabia has a larger one. Despite its size, Egypt imports more goods than it exports. As a result, Egypt has to borrow large sums of money from other countries to survive financially. Many people in Egypt live in poverty. Estimates range from 20 to 25 percent. One of the main reasons is Egypt’s explosive population growth. The population has nearly doubled in less than 30 years, but the economy hasn’t kept pacewith this growth. Unemployment ismore than 10 percent and it can be especially difficult for younger Egyptians to find jobs. Words to Understand pharmaceuticals  drugs used as medicine state of emergency  situation in which the government suspends some rights of its people because of what it believes is a serious threat transit fees  money paid by ships and other types of transportation for the right to use canals, roadways, and other methods of getting from one point to another. unicameral legislature  a single legislative body

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