{"id":596273,"date":"2019-08-22T04:00:25","date_gmt":"2019-08-22T04:00:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/"},"modified":"2019-08-22T04:00:25","modified_gmt":"2019-08-22T04:00:25","slug":"why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/","title":{"rendered":"Why isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates?"},"content":{"rendered":"

<\/a> Why isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates?<\/b> Despite growth spiking over the past several years and Egypt remaining one of the Middle East\u2019s fastest-growing economies, the country\u2019s poverty rate has also risen<\/a>. Although it might be easy to blame the IMF-backed austerity program for this trend, the two indicators that offer real explanations are which sectors are driving this growth and how the growth is then redistributed by the state, Amr Adly writes for Bloomberg<\/a>.<\/p>\n

Growth is fueled mostly by sectors with low job creation<\/b>, including oil and gas, and telecoms, while other sectors such as construction and tourism generally create low-skill and low-paying jobs. Meanwhile, there has been little growth in high value-added industries that require greater skill levels and more sophisticated technology. Developing these industries requires far greater investment into education and research and development, as well as infrastructure capable of facilitating innovation. \u201cNone of this has been prioritized by Egyptian governments,\u201d Adly writes.<\/p>\n

And when growth lags, it\u2019s usually the poorer chunk of the population who bear the brunt of austerity measures<\/b>, Adly says. Improving macroeconomic indicators are indeed signs that the country is heading in the right direction. But they also fail to account for changes in the country\u2019s social and political changes; they are \u201ctoo abstract, too economistic\u201d to gauge the experiences of people living and working in the real economy, he says.<\/p>\n","protected":false},"excerpt":{"rendered":"

Why isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates? Despite growth spiking over the past several years and Egypt remaining one of the Middle East\u2019s fastest-growing economies, the country\u2019s poverty rate has also risen. Although it might be easy to blame the IMF-backed austerity program for this trend, the two indicators that offer real […]<\/p>\n","protected":false},"author":1,"featured_media":596274,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9003],"tags":[2415,104,72,2397],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-reading","tag-economic-reform-program","tag-economy","tag-enterpriseam","tag-worth-reading","wpautop","entry"],"acf":{"mongo_id":"4d3dd3c9-7d7d-4062-9b07-8b35a8b762db","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/578.jpg","photo_position":"above","related_issue":[596253],"teaser":"","voice_url":""},"yoast_head":"\nWhy isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates?\" \/>\n<meta property=\"og:description\" content=\"Why isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates? Despite growth spiking over the past several years and Egypt remaining one of the Middle East\u2019s fastest-growing economies, the country\u2019s poverty rate has also risen. Although it might be easy to blame the IMF-backed austerity program for this trend, the two indicators that offer real […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-22T04:00:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/578.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Why isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates?\",\"datePublished\":\"2019-08-22T04:00:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/\"},\"wordCount\":249,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/578.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economic reform program\",\"economy\",\"EnterpriseAM\",\"worth reading\"],\"articleSection\":[\"Worth reading\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/22\/why-isnt-egypts-economic-growth-translating-into-lower-poverty-rates\/\",\"name\":\"Why isn\u2019t Egypt\u2019s economic growth translating into lower poverty rates? 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Reforms over the past four years have put the economy in a strong position to rebound\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/462.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561429,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/imf-more-upbeat-on-global-growth-says-covid-end-increasingly-visible\/","url_meta":{"origin":596273,"position":1},"title":"IMF more upbeat on global growth, says covid-end \u201cincreasingly visible\u201d","author":"enterpriseam admin","date":"7 April 2021","format":false,"excerpt":"The IMF sees the global economy growing this year at a faster pace than previously expected, saying in its updated World Economic Outlook that it now expects global growth to come in at 6% \u2014 0.5 percentage points higher than the 5.5% growth it had penciled in three months ago\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/60.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566058,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/","url_meta":{"origin":596273,"position":2},"title":"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission","author":"enterpriseam admin","date":"25 May 2021","format":false,"excerpt":"Egypt needs to involve the non-oil private sector in its sustainable covid recovery plan, according to an economic brief by the European Commission. The removal of non-tariff barriers and the levelling of the playing field between public and private companies should activate the private sector\u2019s potential for job creation and\u2026","rel":"","context":"In "SPEED ROUND: ECONOMY"","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562881,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/mohamed-maait-headlines-the-talk-shows-on-9-june-2021\/","url_meta":{"origin":596273,"position":3},"title":"Mohamed Maait headlines the talk shows on 9 June 2021","author":"enterpriseam admin","date":"9 June 2021","format":false,"excerpt":"Finance Minister Mohamed Maait has the Enterprise talk show section all to himself this morning after he dialled in to Kelma Akhira (watch, runtime: 25:14) and Yahduth fi Masr (watch, runtime: 2:13 | 3:08) last night to talk about the economy. Among the highlights was Maait\u2019s suggestion that we could\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593524,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/non-banking-financial-services-set-to-attract-investment-and-drive-growth-in-egypt\/","url_meta":{"origin":596273,"position":4},"title":"Non-banking financial services set to attract investment and drive growth in Egypt","author":"enterpriseam admin","date":"1 October 2019","format":false,"excerpt":"Beltone sees scope for growth in Egypt, looks to regional expansion: Egypt has become a hub for attracting investment, especially in fixed income, thanks to the attractiveness of its carry trade and the success of its economic reform program, Beltone Financial\u2019s Executive Chairman Maged Shawky told Bloomberg TV (watch, runtime\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/2544.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567296,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/19\/egypt-expected-to-have-highest-gdp-growth-in-north-africa-debt-sustainability-remains-a-concern-un\/","url_meta":{"origin":596273,"position":5},"title":"Egypt expected to have highest GDP growth in North Africa, debt sustainability remains a concern -UN","author":"enterpriseam admin","date":"19 January 2020","format":false,"excerpt":"Egypt\u2019s GDP growth forecast among the highest in North Africa, debt sustainability remains a concern -UN: Egypt\u2019s GDP is expected to grow at a 5.8% clip in 2020 and 5.3% in 2021, one of the highest in North Africa, according to the United Nations\u2019 2020 World Economic Situation and Prospects\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/634.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=596273"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596273\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/596253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/596274"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=596273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=596273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=596273"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=596273"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=596273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}