Egypt Says Third of Population Lives in Poverty
Posted: Tue Jul 30, 2019 10:54 amVOA - Economy
FILE - An Egyptian bread vendor looks for clients on el-Moez Street in historic Fatimid Cairo, March 12, 2015.
FILE - An Egyptian bread vendor looks for clients on el-Moez Street in historic Fatimid Cairo, March 12, 2015.
CAIRO, EGYPT - Egypt says one in every three citizens was living in poverty in 2018.
The country's statistics agency says 32.5% of Egyptians lived below the poverty line that year, up from 27.8% in 2015 and 16.7% in 2000.
Monday's report was the first on poverty and income since the government secured a $12 billion loan from the International Monetary Fund in 2016.
The government has imposed hikes in the price of fuel, government services and utilities, implemented a value-added tax and floated the currency.
The austerity measures have taken a heavy toll on poor and middle-class Egyptians.
The IMF is set to deliver the final round of the bailout in the coming weeks.