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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 Egyptians are fairly heterogeneous people. Mediterranean (such as Greek and Italian) and Arab influences appear in the North, and there are indigenous black populations in the South. Many theories has been proposed on the origins of the Egyptians, however none are conclusive, and the most widely accepted theory is that Egyptian society was the result of a mix of east african and asiatic people who moved to the Nile Valley after the ice age. The bulk of Modern Egyptian society are heterogeneous but maintain cultural ties to the ancient Egyptian society which has always been regarded as rural and most populous compared to the neighbouring demographics. The Egyptian people spoke only languages from the Afro-Asiatic family (previously known as Hamito-semitic)

The Egyptians are a fairly homogeneous people. Mediterranean and Arab influences appear in the north, and there is some mixing in the south with the Nubians of northern Sudan. Many theories has been proposed on the origins of the Egyptians, however non are conclusive, and the most widely accepted theory is that Egyptian society was the result of a mix of east african and asiatic people who moved to the Nile Valley after the ice age. The bulk of Modern Egyptian society still maintains a homogenous genetic tie to the ancient Egyptian society which has always been regarded as rural and most populous compared to the neighboring demographics. The Egyptian people spoke only languages from the Afro-Asiatic family (previously known as Hamito-semitic) throughout their history starting with Old Egyptian, to modern Arabic.

Egypt is often identified as the place of refuge that the Holy Family sought in its flight from Judea: "When he arose, he took the young Child and His mother by night and departed for Egypt, and was there until the death of Herod, that it might be fulfilled which was spoken by the Lord through the prophet, saying, Out of Egypt I called My Son" (Matthew 2:12-23). The Egyptian Church, which is now more than nineteen centuries old, was the subject of many prophecies in the Old Testament. Isaiah the prophet, in Chapter 19, Verse 19 says "In that day there will be an altar to the LORD in the midst of the land of Egypt, and a pillar to the LORD at its border."

Ancient Egyptian religion was a polytheistic system that saw the world as in conflict between forces of order and chaos. The Pharaoh, representative of order on Earth, was seen as divine and descended of the falcon god Horus. There was a strong cult of resurrection in the next life centered around the god Osiris.

After Mohamed Naguib resigned in 1954, Gamal Abdel Nasser, the real architect of the 1952 Revolution, assumed power as President and nationalized the Suez Canal leading to the 1956 Suez Crisis. Between 1958 and 1961 Egypt and Syria formed a union known as the United Arab Republic.

Approximately one-third of Egyptian labor is engaged directly in farming, and many others work in the processing or trading of agricultural products. Practically all Egyptian agriculture takes place in some 25,000 km² (6 million acres) of fertile soil in the Nile Valley and Delta. Some desert lands are being developed for agriculture, including the ambitious Toshka project in Upper Egypt, but some other fertile lands in the Nile Valley and Delta are being lost to urbanization and erosion.

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.