Egypt's middle class cuts costs as IMF-backed reforms take hold
- Posted on November 17, 2024
- By Business News Today
- 3 Views
Egypt's middle class cuts costs as IMF-backed reforms take hold
Egypt's middle class is facing an unprecedented economic crisis, with many struggling to afford basic necessities. IMF-backed reforms, including fuel price hikes and subsidy cuts, have eroded purchasing power, forcing families to make difficult choices. While officials acknowledge the public's plight, economists believe the reforms, though painful, are necessary for long-term economic stability.