Abstract
control the fiscal receipts of the Egyptian government in order to repay the external debt. Egypt, legally part of the Ottoman Empire, was under the influence of the British consul general, until the British declared Egypt a protectorate in 1914. Egypt was recognized as a sovereign state in 1922, but the British continued to maintain their military influence in the country until the Free Officers seized power in 1952 and established a republic. Under the late President Nasser, Egypt experienced its second surge in establishing a large industrial sector that was to be state-owned and operated (Ikram, 1980). Egypt, a socialist democratic republic, has established the People's Assembly as the legislative authority that approves the state policies, development plan, and state budget. In a multiparty system, the members of the People's Assembly are elected on a party-list basis, while the president of the republic appoints ten members to the assembly.
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