World / Social Issues

Egypt says third of its population living in poverty as final IMF loan looms

AP

Egypt says 1 in every 3 citizens was living in poverty in 2018.

The country’s statistics agency says 32.5 percent of Egyptians lived below the poverty line that year, up from 27.8 percent in 2015 and 16.7 percent 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.

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