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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.

The President names the Prime Minister and may preside over the cabinet. President Mubarak holds a monthly meeting with the cabinet on which he presides. In addition, the President is the Supreme Commander of the Egyptian Armed Forces. The President concludes treaties and may submit questions to national referenda. The President also possesses the constitutional power to dissolve the People’s Assembly, however, no President has ever done so. In certain emergencies, the President may assume special, comprehensive powers.

The Egyptians also expanded the practice of mummification to animals. Sacred animals central to cults, such as ibis, hawks, and cats, were mummified by the thousands.

The Egyptian military provides indirect support for the foreign policy of Egypt in the region. Egypt is the strongest military power on the African continent, and the second largest in the Middle East, after Israel.

The regularity and richness of the annual Nile River flood, coupled with semi-isolation provided by deserts to the east and west, allowed for the development of one of the world's great civilisations. A unified kingdom arose circa 3200 BC by King Mina, and a series of dynasties ruled in Egypt for the next three millennia. The last native dynasty, known as the Thirtieth Dynasty, fell to the Persians in 341 BC who dug the predecessor of the Suez canal and connected the Red Sea to the Mediterranean. Later, Egypt fell to the Greeks, Romans, Byzantines and Persians again.

Popular Islam is based mostly on oral tradition. Imams with virtually no formal education commonly memorize the entire Qur'an and recite appropriate verses on religious occasions. They also tell religious stories at village festivals and commemorations marking an individual's rites of passage. Predestination plays an important role in popular Islam. This concept includes the belief that everything that happens in life is the will of God and the belief that trying to avoid misfortune is useless and invites worse affliction. Monotheism merges with a belief in magic and spirits (jinns) who are believed to inhabit the mountains.