Gov’t aims to reduce poverty rate to 28% in FY2019-2020

The government aims to reduce the poverty rate to 28% this fiscal year, down from 32.5% in 2017-2018, sources close to the matter told the local press. The government could invest up to EGP 7 bn in housing, education and health projects in impoverished Upper Egypt governorates in response to the rising levels of poverty. Official figures showed last month that the poverty rate shot up 5% from 27.8% in FY2017/2018.