Egyptian MP Fakhry El-Feky: 32% of the Population Lives Below the Poverty Line
Egyptian MP Fakhry El-Feky, Chairman of the Planning and Budget Committee, stated that around 32% of Egypt’s population lives below the poverty line. He explained that social protection programs are aimed at easing the living burdens of the most vulnerable groups.
During a televised interview, El-Feky said that the upcoming fiscal year’s budget is titled the “Budget of Growth, Stability, Partnership, and Trust Between the Tax Authority and Society,” and is designed to boost production and economic growth.
النائب فخري الفقي: نسبة من يعيشون دون خط الفقر الآن في حدود 32%#حديث_القاهرة#القاهرة_والناس@karema_awad1 pic.twitter.com/TNCqzE9o7i
— القاهرة والناس (@alkaherawalnas) May 3, 2025
He added that the government expects Egypt’s GDP to reach EGP 17.3 trillion in the fiscal year 2024/2025 and rise to EGP 20.4 trillion in 2025/2026, supported by ongoing economic reforms and an improved investment climate. He also noted that the population growth rate has declined to about 1.3%, which contributes to better development indicators.
Regarding subsidies, El-Feky revealed that bread subsidies cost the state approximately EGP 100 billion and benefit around 70 million citizens. Diesel subsidies, he added, benefit everyone in Egypt due to their use in transportation, agriculture, and industry.
