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Over the last 20 years, more than 217 oil exploration agreements have been signed and multinational oil companies spent more than $27 billion in exploration companions. These activities let to the findings of about 18 crude oil fields and 16 natural gas fields. As a result of these findings, crude oil reserves as of September 2001 are estimated at 445 million m³ (2.8 billion barrel), and proven natural gas reserves are 1,600 km³ (55 trillion ft³) with a likely additional 1,800 km³ (65 trillion ft³). Texas-based Apache Oil Company is the largest American investor in Egypt, with a total investment of more than $1.6 billion since 1996.

The first Christians in Egypt were mainly Alexandrian Jews such as Theophilus, whom Saint Luke the Evangelist addresses in the introductory chapter of his gospel. When the church was founded by Mark during the reign of the Roman emperor Nero, a great multitude of native Egyptians (as opposed to Greeks or Jews) embraced the Christian faith. Christianity spread throughout Egypt within half a century of Mark's arrival in Alexandria as is clear from the New Testament writings found in Bahnasa, in Middle Egypt, which date around the year 200 AD, and a fragment of the Gospel of Saint John, written in Coptic, which was found in Upper Egypt and can be dated to the first half of the second century. In the second century Christianity began to spread to the rural areas, and scriptures were translated into the local language, namely Coptic

Under the 1980 amendments of the Egyptian Constitution, the President is elected for six years. As of 2005, President Mohamed Hosni Mubarak has been the President of the Republic since 14 October 1981 and is currently serving his last year of his fourth term. President Mubarak was re-elected in 1987, 1993, and 1999, making him the longest serving Egyptian President in the history of the Republic.

There currently exist eighteen recognized political parties from across the political spectrum. The formation of political parties based on religion is prohibited by the Constitution. The official opposition and political pressure groups, like the Muslim Brotherhood, are active in Egypt and make their views public. They are represented at various levels in the political system. However, power is concentrated in the hands of the President of the Republic and the National Democratic Party which retains a super-majority in the People's Assembly.

Under comprehensive economic reforms initiated in 1991, Egypt has relaxed many price controls, reduced subsidies, and partially liberalized trade and investment. Manufacturing is still dominated by the public sector, which controls virtually all heavy industry. A process of public sector reform and privatization has begun, however, which could enhance opportunities for the private sector. Agriculture, mainly in private hands, has been largely deregulated, with the exception of cotton and sugar production. Construction, non-financial services, and domestic marketing are largely private. This has promoted a steady increase of GNP and the annual growth rate. Among Arab countries, Egypt's GDP is second only to Saudi Arabia's. However, the Egyptian economy relies heavily on tourist revenues. The tourism sector suffered tremendously following a terrorist attack on tourists in Luxor in October 1997, and the September 11, 2001 terrorist attacks against the United States, affecting the economy as a whole.