_#_Diplomatic representation: Ambassador El Sayed Abdel Raouf EL REEDY; Chancery at 2310 Decatur Place NW, Washington DC 20008; telephone (202) 232-5400; there are Egyptian Consulates General in Chicago, Houston, New York, and San Francisco;
US—Ambassador Frank G. WISNER; Embassy at Lazougi Street,
Garden City, Cairo (mailing address is APO New York 09674-0006);
telephone [20] (2) 355-7371; there is a US Consulate General in
Alexandria
_#_Flag: three equal horizontal bands of red (top), white, and black with the national emblem (a shield superimposed on a golden eagle facing the hoist side above a scroll bearing the name of the country in Arabic) centered in the white band; similar to the flag of Yemen which has a plain white band; also similar to the flag of Syria which has two green stars and of Iraq which has three green stars (plus an Arabic inscription) in a horizontal line centered in the white band
_*Economy #_Overview: Egypt has one of the largest public sectors of all the Third World economies, most industrial plants being owned by the government. Overregulation holds back technical modernization and foreign investment. Even so, the economy grew rapidly during the late 1970s and early 1980s, but in 1986 the collapse of world oil prices and an increasingly heavy burden of debt servicing led Egypt to begin negotiations with the IMF for balance-of-payments support. As part of the 1987 agreement with the IMF, the government agreed to institute a reform program to reduce inflation, promote economic growth, and improve its external position. The reforms have been slow in coming, however, and the economy has been largely stagnant for the past three years. The addition of 1 million people every seven months to Egypt's population exerts enormous pressure on the 5% of the total land area available for agriculture.
_#_GDP: $37.0 billion, per capita $700; real growth rate 1.0% (1990 est.)
_#_Inflation rate (consumer prices): 26% (FY90)
_#_Unemployment rate: 15% (1989 est.)
_#_Budget: revenues $7 billion; expenditures $11.5 billion, including capital expenditures of $4 billion (FY89 est.)
_#_Exports: $3.8 billion (f.o.b., 1990);
commodities—crude and refined petroleum, cotton yarn, raw cotton, textiles, metal products, chemicals;