Egyptians suffer as high inflation bites

Egyptians have been going through tough times with rising inflation and the devaluation of the currency which have squeezed living standards in the country.Egyptians have been going through tough times with rising inflation and the devaluation of the currency which have squeezed living standards in the country.

کد خبر: ۸۲۱۵۷۷

تاریخ: ۱۰ مرداد ۱۳۹۷ - ۱۱:۲۲

Egypt's economic problems spiralled into crisis following the 2011 uprising. Last month, the government announced a gas price increase of 50 percent, and it raised the price of electricity by 26 percent.

"We wonder how can we buy clothes for our kids and feed them as well. Unfortunately, the middle class does not exist. We have a lower and upper class," said Ibrahim, a shopper.

Seventy million Egyptians are dependent on government ration cards to buy food. While, clothing prices have shot up more than 150 percent since 2016.

The International Monetary Fund had loaned the government $12 billion in 2016.