WATCHING THE WORLD EGYPT'S PROBLEMS, POLICIES

With Roger Vielvoye from London Like many countries in the developing world, Egypt sees foreign exchange generated by oil exports as one of the main engines to stimulate its economic growth. But Egypt faces the classic developing world dilemma. An expanding local economy and even a modest rise in desperately low levels of personal income also stimulates demand for oil products. And as the domestic oil market gathers momentum, it sucks in more local crude oil production that previously went for

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