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Egypt: Nasser's Promotion of Economic Development
Transcript of Egypt: Nasser's Promotion of Economic Development
Who was Gamal Nasser?
-President of Egypt from 1956 to 1970
-Came from a poor family and turned into one of the most influential leaders in the Middle East
-Overthrew the Egyptian Monarchy in the Egyptian Revolution of 1952 where King Farouk was overthrown then exiled
-Brought prosperity and wealth into Egypt
-Improved the conditions of Egyptian peasants and workers (the poorer citizens)
Agrarian Reform and Suez Canal
Agrarian reform is "government-initiated or government-backed redistribution of agricultural land"
Nasser confiscated 2,000+ square miles of cultivable land from wealthy landowners, which he distributed to Egypt’s poor peasants to stimulate economic growth while improving the lives of the less wealthy
Nasser nationalized the British and French-owned Suez Canal in 1956 (meaning all the revenue of the Canal went into the pockets of the Egyptian government)
In response Britain, Israel, and France invaded Egypt later being forced to withdraw under Soviet, U.N, and U.S pressure
Government Initiated Project
Nasser started the building of the Aswan dam
On the Nile River
Would provide electricity to neighboring villages and towns and increase the amount of cultivable land available to peasant farmers
EQ: How did states respond to the 20th century's economic challenges?
Despite the economic challenges, countries like Egypt persevered and started economic projects to help speed the economy such as the building of the Aswan Dam. The nationalization of the Suez Canal greatly increased Egypt's income and the continued agricultural production in Egypt provided economic stability.
Under Nasser's Presidency
-Nasser was a big supporter of Pan-Arabism which is the ideology of political unification between all Arab states
-Created an authoritarian police state
-Banned political parties and suppressed political opposition
-Nationalized private companies, banks, and other industries
-Significantly expanded the Egyptian public sector (government services)
-Introduced agrarian reform