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Mubarak added in reference to bread - "the state will not be able to continue to provide such services with the population growth and we will be forced to impose heavy taxes on citizens, which would cause investors to flee."
Gone are the heady days of 1979 following the Camp David peace agreement with Israel when it was thought that peace and stability would bring economic benefits...
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Few of those dreams came to fruition and the more recent world paradigm involving terrorism has had a negative impact on development. And although there were, and are, internal constraints such as protective tariffs, policies deterring foreign investment, and structural adjustment policies, and external pressures of regional instability, foreign debt, and imposed SAP policies, the constant population growth has had a negative effect on the economy far outweighing other factors...
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Egypt Economic And Social Issues
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