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The Average Income of Egyptian Households is Now EGP 51,400

A new report by CAPMAS has revealed some alarming figures.

The Average Income of Egyptian Households is Now EGP 51,400

A new report by The Central Agency for Public Mobilization and Statistics (CAPMAS) announced that the average annual income for Egyptian households has risen from EGP 36,700 in 2015 to EGP 51,400, though in setting a national poverty line at EGP 735.5 per month, CAPMAS also reports that the number of Egyptians living below it has risen from 27.8% in 2015 to 32.5%.

It should be noted that the 2016 devaluing of the EGP decreased its value from an average of EGP 8/USD to the current EGP 16/ USD, meaning that the 2015 average income of EGP 36,700 was equivalent to $4,587 then, while the current average income of EGP 51,400 is equivalent to $ 3,103, a decrease of $ 1,400. 

“About 75.8% of families with over 10 members, 73% of families with 8-9 members, and 7% of families with 1-3 members are living in poverty,” said Barakat in a press conference held on Monday.

He added that the research included a sample size of 26,000 families from all governorates across the country, with various visits conducted by CAPMAS researchers during the two-year course of the survey.

The United Nations defines poverty as "not only limited to the lack of income and productive resources to ensure sustainable livelihoods. Poverty's manifestations also include hunger and malnutrition, limited access to education, social discrimination and exclusion, as well as the lack of participation in decision-making."

Main image courtesy of Reuters