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Two-thirds of the Egyptian Population are Struggling

Increasing numbers of Egyptians are desperately hunting for second jobs, cutting back on eating meat and scrambling to find new ways to cope with soaring prices, amid a worsening cost-of-living crisis. The Egyptian pound has halved against the dollar over the past year, as the financial authorities in Cairo attempt to negotiate a heavily managed devaluation of the currency. People are also struggling to deal with inflation rates of almost 33% and even higher rates of inflation for basic goods. The cost-of-living crisis in Egypt, which is likely to see an influx of Sudanese refugees in the coming days, has followed years of state-led austerity measures, collapsing a formerly large middle class in the most populous Arab state. Egypt’s poverty rate hovers close to 30%, according to the most recent government statistics, although the true figure is expected to be higher.