Egypt's President Anwar Sadat laid the foundation stone fro the new Egyptian industrial city of Ramadan on Sunday (29 May), designed to boost the nation's economy.
Egypt's President Anwar Sadat laid the foundation stone fro the new Egyptian industrial city of Ramadan on Sunday (29 May), designed to boost the nation's economy. And on the economy, he earlier told a news conference that he will also be seeking major compensation from Israel for the loss of oil revenue when the Sinai Desert was occupied by Israel.
SYNOPSIS:President Sadat has laid great importance on the Ramadan project. The new industrial city, on the cairo-Ismailia road, will play a major part in Egypt's hopes for economic growth. The government was forced to withdraw a series of draconian measures linked with an earlier plan, when riots broke out in the country's main cities last year. Egypt has been hit very severely in the area of its economy because of the need to maintain a strong defence force should another Middle East war break out. President Sadat has been faced with the problem shared by a number of Middle Eastern countries, including Israel -- how to maintain a strong military force while financing new projects for industrial growth. The loss of the Sinai oilfields after the 1967 Arab-Israeli war was another blow to Egypt's finances.
The President was then asked about the Palestinian Rejection front.