Egypt's middle class struggles as IMF-backed reforms increase costs, reduce subsidies.

Egypt's middle class is struggling with the IMF-backed economic reforms, facing reduced purchasing power as the country implements measures like a liberal currency exchange and reduced subsidies. This has led to increased costs for basic goods, forcing many to cut back on non-essentials. Despite these hardships, the IMF believes the reforms will benefit the economy in the long term.

November 17, 2024
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