Which of the following is NOT a reason why al-Infitah failed to succeed?
A) Foreign investors were wary of investing in the Egyptian economy, thus choosing low-risk investments such as construction of apartment or office buildings and luxury hotels
B) As under Nasser, Egypt faced a costly defense budget and high inflation
C) The IMF loans Sadat relied on demanded highly unpopular cuts to social welfare programs
D) Religious parts of Egyptian society were opposed to capitalism, seeing it as un-Islamic
Correct Answer:
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