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Egypt’s poverty rate falls for first time since 1999

Egypt’s poverty rate falls for first time since 1999
Minister of Planning and Economic Development, Hala El-Saeed

Cairo – Mubasher: Egypt’s poverty rate has declined for the first time since 1999, sliding to 29.7% in fiscal year 2019/2020 from 32.5% in FY17/18, the Minister of Planning and Economic Development, Hala El-Saeed, revealed.

Poverty rates fell the most in rural Lower Egypt with 4.73%, followed by rural Upper Egypt with 3.79%, El-Saeed said in a statement on Thursday.

The net annual average household income increased by 15% to EGP 69,100 in FY19/20, compared to EGP 60,400 in FY17/18.