Where is Egypt getting all the money from?

[Abid123]

Any Egyptian brothers on here that can explain how Egypt can keep affording all these expenisve toys? I mean they have bought a SU-35, Mig-35, Rafale and even have ordered Eurofighter Typhoon. As well as 500 T-90 tanks, Type 209 Submarine, MEKO A-200 stealth frigate in the Egyptian navy alongside the French FREMM. They also bought 50 KA-52 attack helicopters from Russia.

I am just wondering where Egypt gets the money from and how these purchases are made possible despite the economic crisis? Their GDP is similar to that of Pakistan and their defence budget is actually a little smaller.

 

[Indus Pakistan]

Their GDP is similar to that of Pakistan and their defence budget is actually a little smaller.

Well part of the answer is in what you said. Egypt is three times smaller yet has same GDP as Pakistan which means it has far higher per capita. It earns nearly $6 bilion from Suez Canal alone. Then it is probably the second largest US aid recipient after Israel. All this gives Egypt the dollars to buy, buy ...

 

[Mohamed Bin Tughlaq]

Well part of the answer is in what you said. Egypt is three times smaller yet has same GDP as Pakistan which means it has far higher per capita. It earns nearly $6 bilion from Suez Canal alone. Then it is probably the second largest US aid recipient after Israel. All this gives Egypt the dollars to buy, buy ...

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What the fuk. How is 1.3 Billion money in this age and time? Probably for bribing purposes but that stuff won't buy you anything. 1.3 Billion annually is not even worth pocket money let alone thinking that can contribute to anything.

Any Egyptian brothers on here that can explain how Egypt can keep affording all these expenisve toys? I mean they have bought a SU-35, Mig-35, Rafale and even have ordered Eurofighter Typhoon. As well as 500 T-90 tanks, Type 209 Submarine, MEKO A-200 stealth frigate in the Egyptian navy alongside the French FREMM. They also bought 50 KA-52 attack helicopters from Russia.

I am just wondering where Egypt gets the money from and how these purchases are made possible despite the economic crisis? Their GDP is similar to that of Pakistan and their defence budget is actually a little smaller.

Aside from these purchases Egypt is currently building 20 new cities. I guess Egypt has good planning and have good management of it's economy. Putting some aside for constructions and others for defense industry.

These 20 new cities could cost upto 1-Trillion USD (The Smart city outside of Cairo alone costs around 45 billion USD)

The money is coming from Egyptian taxpayers, Suez Canal and within their internal economy

 

[That Guy]

Any Egyptian brothers on here that can explain how Egypt can keep affording all these expenisve toys? I mean they have bought a SU-35, Mig-35, Rafale and even have ordered Eurofighter Typhoon. As well as 500 T-90 tanks, Type 209 Submarine, MEKO A-200 stealth frigate in the Egyptian navy alongside the French FREMM. They also bought 50 KA-52 attack helicopters from Russia.

I am just wondering where Egypt gets the money from and how these purchases are made possible despite the economic crisis? Their GDP is similar to that of Pakistan and their defence budget is actually a little smaller.

The Saudis and the UAE have loaned Egypt tens of billions of dollars, which was the price for Sisi to overthrow Morsi.

The Saudis especially needed a friendly government in Egypt in order to make the NEOM project work as intended.

 

[Indus Pakistan]

The money is coming from Egyptian taxpayers

And oil.

 

[Mohamed Bin Tughlaq]

And oil.

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Oil is just 23% of the exports in Egypt but that is not the entire internal economy aside from the exports. Egypt is 1.2 Trillion USD economy and projected to grow more then double by next 5-10 years

 

[Gomig-21]

Any Egyptian brothers on here that can explain how Egypt can keep affording all these expenisve toys? I mean they have bought a SU-35, Mig-35, Rafale and even have ordered Eurofighter Typhoon. As well as 500 T-90 tanks, Type 209 Submarine, MEKO A-200 stealth frigate in the Egyptian navy alongside the French FREMM. They also bought 50 KA-52 attack helicopters from Russia.

I am just wondering where Egypt gets the money from and how these purchases are made possible despite the economic crisis? Their GDP is similar to that of Pakistan and their defence budget is actually a little smaller.

No Typhoons, yet anyway. I think the next purchase after the 30 Su-35SEs will be the Su-57. But here's the more important aspect about the financing abilities for all of this is that most forget that Egypt has secured the largest gas fields in the Mediterranean Sea in Zohr. That buys you A LOT of credit and once the Rafale purchase was made using French loans, that opened the door wide open. Even though India was the first to actually agree to purchase the Rafale, it was Egypt that was the first customer. Then Sisi and Putin spoke at great lengths about essentially moving out of the US' sphere in particularly military aircraft. Once that was decided along with the deal to take the 2 Mistrals off of Russia's hands, that helped ink the deal for the 46 Ka-52 Nile Alligators and then the MiG-29/35 and of course the Su-35.

Also, most of the modernization is naval because of the gas fields as well as many of the new cities and tourist projects in the Red Sea which are associated with Suadi NEOM project.

Now to clear up the silly rumors, the money that Saudiya and the UAE gave Egypt was to help it not fall into a failed state after the revolution and the economic stagnation and high inflation that could've easily destroyed the country, or at least put it in a very desperate situation. But it was not associated with any weapons purchase loool. It was to help create collateral for IMF loans and to help boost the economy, help create the only two gas liquification plants in the Mediterranean as well as help build a lot of this new infrastructure. People like to rag on Sisi and rightfully so in some cases, but for the most part, he's been brilliant in essentially not only saving Egypt, but fixing a lot of it which was no easy task.

 

[karamany98]

It's a mixture between Gas found in the Mediterranean, loans from the Gulf and France and an economy that was growing at 5.6% just before Corona hit. Egypt is one of the only countries whose economy is going to expand even with Corona and this is due to the economical politices that Sisi untertook like cancelling subsidies on gas and food.

 

[Abdelrahman]

I was against him at the beginning, but Al Sisi is the miracle of Egypt if you know.
Leave the weapons, look at the country, look at the new mega cities like the new capital of Egypt or new Al Alamien, look at the roads and bridges. The Egyptians withstood the harsh economical decisions taken few years ago and now they start to gain the revenue.

 

[jamal18]

Not sure now, but certainly a while back Egypt was the biggest receiver of US aid after Israel.

 

[Trango Towers]

Well part of the answer is in what you said. Egypt is three times smaller yet has same GDP as Pakistan which means it has far higher per capita. It earns nearly $6 bilion from Suez Canal alone. Then it is probably the second largest US aid recipient after Israel. All this gives Egypt the dollars to buy, buy ...

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Looooooool

 

[ARMalik]

What the fuk. How is 1.3 Billion money in this age and time? Probably for bribing purposes but that stuff won't buy you anything. 1.3 Billion annually is not even worth pocket money let alone thinking that can contribute to anything.



Aside from these purchases Egypt is currently building 20 new cities. I guess Egypt has good planning and have good management of it's economy. Putting some aside for constructions and others for defense industry.

These 20 new cities could cost upto 1-Trillion USD (The Smart city outside of Cairo alone costs around 45 billion USD)

The money is coming from Egyptian taxpayers, Suez Canal and within their internal economy

Your post does not make any sense, Let me elaborate;

- Egypt still has $110 Billion foreign debt, same level as Pakistan but having a much smaller population than Pakistan. In layman's term - less people paying more debt.
-Taxpayers numbers are more or less the same in Egypt
-Suez Canal has seen a decrease in shipping traffic due to Covid.
-The internal Economy growth slowed due to Covid according to the World Bank.

Seriously, where do you come up with these numbers like $1-trillion? Maybe in the next 100 years but not for another 50-years Egypt is going to see anything significant.

The money Egypt is getting for weapons are from US military aid, Saudi money, Israel money, UAE money and so on.