The Carnegie report “Owners of the Republic: An Anatomy of Egypt’s Military Economy” details how the involvement of the Egyptian Armed Forces in the economy has undergone a transformation in scope and scale under President Abdel-Fattah el-Sisi, giving rise to a new version of Egyptian state capitalism. The Egyptian military’s involvement in the economy has come at a high cost, contributing to underperformance in development and auguring a new ruling class of military officers. The Egyptian economy relies heavily on the military-led public sector, which has proven unable to provide the long-term, quality growth necessary to pull millions out of poverty. The Sisi administration has expanded its business interests to sideline cronies of the government it overthrew, but its economic activities will make it difficult to implement the reforms necessary to stimulate growth.

Egypt’s Military as the Spearhead of State Capitalism, Yezid Sayigh

The Chronic Underperformance of Egypt’s Military Economy, Bessma Momani

Egypt’s Emerging Ruling Class, Shana Marshall

The Egyptian Economy: In the Clutches of the Deep State, George T. Abed

Armed Forces in Power and in Business, Ishac Diwan