Egypt’s varied history, straddling multiple geopolitical and economic spheres, continues to shape the country’s development. However, this does not come without challenges. Food security uncertainty stemming from Russia’s invasion of Ukraine in early 2022 is a particular headwind, in combination with associated issues like inflation and foreign exchange risk. Moreover, 29.7% of Egyptians still live below the official poverty line.
The government has taken action as part of wider efforts to tackle this issue. Indeed, it has sought to improve health care access and increase economic support for low-income Egyptians. For example, Egypt plans to roll out universal health insurance for households living below the country’s official poverty line, an initiative set to be fully implemented by 2032. Moreover, the government recognises the importance of maintaining robust consumer spending: it announced it would set aside LE2bn ($1.3bn) in public funds to guarantee mortgages and consumer loans to stimulate lending.
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