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?

    <p>Attracting foreign investments</p> Signup and view all the answers

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

    <p>All of the above</p> Signup and view all the answers

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

    <p>All of the above</p> Signup and view all the answers

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

    <p>To attract external sources of finance and capital</p> Signup and view all the answers

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

    <p>Overstaffing, disguised unemployment, and more pressure on the budget</p> Signup and view all the answers

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

    <p>An increase in the cost of imports</p> Signup and view all the answers

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

    <p>To encourage the inflow of foreign capital to the Egyptian economy</p> Signup and view all the answers

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

    <p>An increase in wages, which increased the budget deficit and inflation</p> Signup and view all the answers

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

    <p>An increase in internal and external public debt</p> Signup and view all the answers

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