Egypt's economy was heavily dependent on cotton cultivation until 1930s. Industrialization began after 1930 with tariff reforms and government support. Oil boom in 1975-1980 led to significant economic growth. Economic reforms since 1991 improved market-oriented economy
Eurozone consists of 20 EU member states adopting euro as primary currency. Seven non-euro EU members (Bulgaria, Czechia, Denmark, Hungary, Poland, Romania, Sweden) remain non-euro. Four non-euro EU members have formal agreements to use euro. Kosovo and Montenegro have adopted euro unilaterally without formal agreement
Italy is a highly developed social market economy with high per capita income. The economy ranks 8th globally by nominal GDP and 11th by PPP-adjusted GDP. Italy is the eighth-largest exporter globally with $611 billion in 2021. The country has a strong social security system comprising 24.4% of GDP
Prepayment is any payment made before its due date. Complete prepayments cover full liability balance. Partial prepayments cover only part of liability balance
Rising public sector spending reduces or eliminates private sector spending. Government needs revenue through taxes or Treasury securities sales. Higher taxes reduce private income and spending. Treasury sales increase borrowing costs and reduce borrowing demand
BCR summarizes relationship between project costs and benefits. Used in capital budgeting to analyze project value for money. Can be expressed in monetary or qualitative terms