The sign reads: ‘No to poverty, no to unemployment , no to torture’– Photo by Socialist Way
CAPMAS announced in 2010/2011 that 25.5% of Egypt’s population is poor, whereas the World Bank has an even more shocking statistic, claiming that more than 40% of Egypt’s population lives under the poverty line of $1 a day.
In 2012, 51.3% of Egypt’s young people suffered from poverty, which amounts to 19.4 million people. The same year witnessed a youth unemployment rate of 28.3%, whereas more females were jobless than males. The overall unemployment rate in 2012 stood at 13%.
Earlier this month, CAPMAS also announced that the monthly inflation rate rose by 0.9% in July 2013. Year-on-year, the rate has almost doubled, with an annual rate of 6.3% in July 2012, and 11.5% in July 2013.