I have spoken previously about poverty in Egypt and how the government deal with it by opulence and call the people to austerity. Today, I talk about how some international organizations see Egypt.
World Bank data base indicates that the GDP of the Egyptian stock of hard currency reached $ 33.8 billion in 2015, putting Egypt in the 32 place of GDP. (World Development Indicators database, World Bank, 22 July 2016) This means that Egyptians is located in the medium-high income countries. Yet, the poverty in Egypt is because the rich receive the majority of income and are getting richer while the poor are getting poorer.
Credit Suisse Investment Banking issued a report in 2014 in which it said that the richest 10% of the population in Egypt own about 61% of the wealth in Egypt. This increased to 65 0.3% in 2007. In 2014, their share of the wealth rose to 73.3% of the total wealth, which put Egypt among the worst countries in the world in the distribution of wealth.
The state has to take care of the poor and the rich has to pay more taxes in order to support the poor. The government has to realize that more poor in this country will affect the society too badly and may lead to another revolution against the regime.
