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A series of International Monetary Fund arrangements, coupled with massive external debt relief resulting from Egypt's participation in the Gulf War coalition, helped Egypt improve its macroeconomic performance during the 1990s. Through sound fiscal and monetary policies, Cairo tamed inflation, slashed budget deficits, and built up foreign reserves. Although the pace of structural reforms, such as privatization and new business legislation, has been slower than the IMF envisioned, Egypt's steps toward a more market-oriented economy have prompted increased foreign investment. Lower combined hard currency inflows - from tourism, worker remittances, oil revenues, and Suez Canal tolls - in 1998 and the first half of 1999 resulted in pressure on the Egyptian pound and sporadic dollar shortages, but external payments were not in crisis. Despite ample reserves, the Central Bank did not provide sufficient hard currency to commercial banks and Cairo restricted imports for a short period; these developments confirmed to some investors and currency traders that government financial operations lack sufficient coordination and openness. Monetary pressures have since eased, however, with the continued oil price recovery starting in mid-1999 and a moderate rebound in tourism. Increased gas exports are a major plus factor in future growth.

Export of petroleum and related products amounted to $2.6 billion in the year 2000. In late 2001, Egypt's benchmark "Suez Blend" was about $16.73 per barrel ($105/m³), the lowest price since 1999.

In the Upper Nile Valley, around Kom Ombo and Aswan, there are about 300,000 speakers of Nubian languages, mainly Nobiin, but also Kenuzi-Dongola. The Berber languages are represented by Siwi, spoken by about 5,000 around the Siwa Oasis. There are over a million speakers of the Domari language (an Indo-Aryan language related to Romany), mostly living north of Cairo, and there are about 60,000 Greek speakers in Alexandria. Approximately 77,000 speakers of Bedawi (a Beja language) live in the Eastern Desert.

The Catechetical School of Alexandria is the oldest catechetical school in the world. Founded around 190 by the scholar Pantanaeus, the school of Alexandria became an important institution of religious learning, where students were taught by scholars such as Athenagoras, Clement, Didymus, and the great Origen, who was considered the father of theology and who was also active in the field of commentary and comparative Biblical studies. Origen wrote over 6,000 commentaries of the Bible in addition to his famous Hexapla. Many scholars such as Saint Jerome visited the school of Alexandria to exchange ideas and to communicate directly with its scholars. The scope of this school was not limited to theological subjects; science, mathematics and humanities were also taught there. The question and answer method of commentary began there, and 15 centuries before Braille, wood-carving techniques were in use there by blind scholars to read and write.

Egypt is famous for its ancient civilisation and some of the world's most stunning ancient monuments, including the Giza Pyramids, the Karnak Temple and the Valley of the Kings. The southern city of Luxor contains what accounts to two-thirds of the ancient artifacts present in the entire world. Today, Egypt is widely regarded as the main political and cultural centre of the Arab and Middle Eastern regions.

The Egyptians were one of the first major civilizations to codify design elements in art. The wall paintings done in the service of the Pharaohs followed a rigid code of visual rules and meanings. Early Egyptian art is characterized by absence of linear perspective, which results in a seemingly flat space. These artists tended to create images based on what they knew, and not as much on what they see. Objects in these artworks generally do not decrease in size as they increase in distance and there is little shading to indicate depth. Sometimes, distance is indicated through the use of tiered space, where more distant objects are drawn higher above the nearby objects, but in the same scale and with no overlapping of forms. People and objects are almost always drawn in profile.

However, from the First dynasty onwards, the ancient Egyptians were trying preserve the bodies of the death, so their spirit had a body to guide them to the afterlife.

Following the September 11, 2001 terrorist attacks on the United States, Egypt, which has itself been the target of terrorist attacks, has been a key supporter of the U.S. war against terrorists and terrorist organizations such as Osama bin Ladin and al-Qaeda, and has supported the Iraqi Governing Council.