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Estimates of the Egyptian army’s stake in the economy range betw…

Posted on November 20, 2016 by Shahid Bolsen

Estimates of the Egyptian army’s stake in the economy range between 5-40%; the US government assesses it as being somewhere between these figures, likely between 15-20%. Obviously, there is no transparency so it is difficult to gauge. However, even at the highest estimate, it is still not a majority stake, and most of their economic ventures are not consumer-related (the army reportedly only earns a couple billion Egyptian Pounds from the sale of consumer goods annually). They profit primarily through weapons manufacturing, infrastructure projects and land deals; the rest is related to joint ventures with multinational corporations; indeed, much of weapons production is also undertaken in partnership with foreign firms.

Again, the creation of a monopolistic elite is not contrary to the interests of imperialist projects, it is a component of them. It is a method for facilitating, organizing and managing the subordination of the country through the agency of a loyal ruling class. The more foreign investors and multinationals consolidate their position, the less they will be willing to share, however, and there has been language from the IMF to indicate that privatization of military-owned assets may be expected in the mid to long-term future; which means this is what will happen, albeit incrementally.

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amazighishbalan avatar; Uncle Tom @amazighishbalan ·
16 Jun 2067028058633011530

@jem_toto @PhilConte007 @ShahidkBolsen @joekent16jan19 Apprend la langue. L'anglais ça ouvrira ton horizon comme jamais. Le frère Shahid est probablement le vulgarisateur géopolitique le plus acerbe que j'ai pu écouté dernièrement. Sa chaine youtube Themiddlenation est un must. Peace.

Reply on Twitter 2067028058633011530 Retweet on Twitter 2067028058633011530 1 Like on Twitter 2067028058633011530 11 X link 2067028058633011530
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