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Egypt army control 45% of economy, says report

Germany's Die Welt reported that the Egyptian Defense Ministry controls 45% of the Egyptian economy.

Source : World Bulletin / 13 Feb 2014

A German newspaper has claimed that the Egyptian army controls up to 45% of Egypt's economy.

Die Welt reported that the army has been increasing its control over the economy since the January 25 revolution ousted former dictator Hosni Mubarak.

Within the army's monopoly are hundreds of hotels, hospitals, canneries, clubs and bakeries which employ thousands of workers in at least 26 consumer goods factories.

"The Egyptian army's economic empire flourished in 1979 following the Camp David Peace Accords when the army began investing in everything in the country from the agriculture to construction of roads and bridges, real estate and electronic industries, milk plants and chicken breeding farms, calf and cow farms, vegetable and fruit farms and fish farms," said the newspaper.

 

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