Economic Development for Morocco, Iran and Egypt

Monetary pressures on an over jimmyd Egyptian pound led the government to float the currency in January 2003, leading to a sharp drop in its value and consequent inflationary pressure. The existence of a black commercialise for hard currency is evidence that the government continues to influence the functionary exchange rate offered in banks. In September 2003, Egyptian officials increased subsidies on basic intellectual nourishmentstuffs, helping to calm a frustrated public but widening an already cryptic budget deficit.

Egypt's balance-of-payments position was not hurt by the state of war in Iraq in 2003, as tourism and Suez Canal revenues fared well. The exploitation of an merchandise market for natural gas is a fulgent spot for future growth prospects, but improvement in the capital-intensive hydrocarbons welkin does little to reduce Egypt's persistent unemployment.

Egypt has a world of more than 76 one thousand million. The illiteracy rate among the population is disturbingly high at active 49 percent. GDP per capita is about(predicate) $4000 and the percent of the population living below the poverty line is about 17 percent. Secondary school education is but 68 percent. Egypt suffers from a general lack of technological expertness that, among other things, limits the amount of high technology manufacturers and high-tech exports. Consequently, single 7 percent of Egyptian exports were considered high-tech.

The Gross Domestic harvest-home was estimated at $295 million in 2003. The poorest 10 p

The World Factbook 2003. 2 Nov. 2004. Guide to Country Profiles. 29 Nov.2004

Iran would vex been an attractive area for foreign investment prone its substantial oil reserves. However, its avowed hatred of the west and of the States in particular, led to a situation in which many another(prenominal) multi-national companies avoided Iran altogether. Agricultural products embroil wheat, rice, other grains, sugar beets, fruits, nuts, cotton; dairy products, and wool. Industrial products include petroleum, petrochemicals, textiles, cement and other construction materials, food processing (particularly sugar refining and vegetable oil production), coat fabricating, armaments.

Oil exports can easily exceed two million barrels per day, and crude oil remains that dominant export and dominant earner of foreign currency.

Morocco faces formidable long-term challenges, which include preparing the economy for freer trade with the European Union and with the United States. opposite challenges include the need to improve education and attracting foreign investment to boost living standards and job prospects for Morocco's youth. The literacy rate is currently about 52 percent, far too low to sustain a high technology modern economy. Reforms in the economy and in particular in the financial sector including privatization and modernization vex been effective in improving the efficiency of the financial sector and other parts of the economy of Morocco.

Similarities and Differences: Morocco, Egypt and Iran have each see a period of heavy government regulation of industries. totally three nations have large state run industries. Morocco and Egypt have tried to liberalize their economies. All three nations are dependent on oil exports. Morocco and Egypt have fairly limited reserves, go Iran has substantial oil reserves.

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