Abstract

Trouble in Egypt
Bullough, Vern L. | May 22, 1967 issue

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This article comments on the economic conditions of Egypt, and the impact of a revolution. In its first decade the gross national product rose in real terms at the fairly consistent rate of 6 percent a year, after almost fifty years of stagnation. Moreover, this growth spread to the lowest reaches of society. The greatest political achievement of the revolution was the nationalization of the Suez Canal at the end of 1956, an act that made President Gamal Abdel Nasser a hero to the Egyptians as well--as to most people of the Near East. Various Western powers, either relieved by the departure of the corrupt King Farouk or eager to establish their influence in Egypt, also gave aid in the first stages of the revolution.

See Also:

REVOLUTIONS; GROSS national product; STAGNATION (Economics); NASSER, Gamal Abdel, 1918-1970; SUEZ Canal (Egypt); EGYPT
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