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Economic Challenges Before the Open Door Policy (1973)

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Economic Challenges Before the Open Door Policy (1973)

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Questions and Answers

What was the primary objective of the 1975 import-export law?

To nationalize private sector companies

To reduce direct subsidies

To establish free zones for foreign investments

To enable private sector participation in imports (correct)

What led to violent riots in Egypt in January 1977?

The introduction of the open door policy

The increase in prices of basic commodities (correct)

The cancellation of food subsidies

The nationalization of private sector companies

What was the eventual outcome of the government's attempts to reduce direct subsidies?

Subsidies were replaced with indirect measures

The decision to reduce subsidies was cancelled (correct)

Subsidies were completely abolished

Subsidies were gradually reduced

What was the focus of the open door policy?

Attracting foreign investments (A) Signup and view all the answers

What was the government's indirect approach to reducing food subsidies?

All of the above (D) Signup and view all the answers

What did Law no. 43 for Arab and Foreign investments provide?

All of the above (D) Signup and view all the answers

What was the primary reason for Egypt to adopt the Open Door Policy?

To attract external sources of finance and capital (C) Signup and view all the answers

What was the result of the government's policy of employment for educated persons?

Overstaffing, disguised unemployment, and more pressure on the budget (A) Signup and view all the answers

What was the impact of the rise in international food prices on Egypt's economy?

An increase in the cost of imports (B) Signup and view all the answers

What was the purpose of Law No. 43 for Arab and Foreign Investments and Free Zones?

To encourage the inflow of foreign capital to the Egyptian economy (A) Signup and view all the answers

What was the consequence of the rapid increase in the cost of living in Egypt?

An increase in wages, which increased the budget deficit and inflation (A) Signup and view all the answers

What was a consequence of the rising budget deficit in Egypt?

An increase in internal and external public debt (A) Signup and view all the answers