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Poverty rate of Egypt has fallen by 3%

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Egypt poverty rate falls 3%

According to statistics from Egypt’s Central Agency for Public Mobilization and Statistics. The country’s poverty rate has dropped to its lowest level in 20 years.

According to the organization, Egypt’s poverty rate decreased by 2.8 percent to 29.7% in the 2019-2020 fiscal yea. Which is down from 32.5 percent in 2017-2018. Also it went on to say that this demonstrates the country’s achievement. Which is in pursuing social justice in tandem with the state’s economic reforms.

According to the organization, Egypt’s extreme poverty rate fell to 4.5 percent in 2019-2020. Which is down from 6.2 percent in 2017-2018.

“The growth in the size of the family is a cause and a consequence of poverty”. The agency said, citing a link between rising family sizes and financial instability. At the same time, it is the result of impoverished families without enough social security. Also so turning to having more children as a source of income when they are old or unwell.”

CAPMAS Report on the Egypt Poverty Rate

According to CAPMAS, 80.6 percent of people in families with 10 or more members are poor. Also 48.1 percent of people in families with 6-7 members are poor as well. However compared to 7.5 percent of those in families with less than four members.

According to the organization, education levels are the most important indication of poverty. Since poverty rates fall as people’s levels of education grow.

In 2019-2020, 35.6 percent of Egyptians without a formal education were poor. Also compared to 9.4 percent of university graduates.

According to CAPMAS, the Egyptian government is “making a lot of efforts”. Which is to protect the underprivileged in order to improve residents’ quality of life.

Also Read: QATARI EMIR WELCOMES SAUDI MINISTER

The Egyptian government’s social initiatives are at the heart of Egypt’s Vision for Sustainable Development 2030.

The CAPMAS findings came as the International Monetary Fund. Which upped its projection for Egyptian economic growth in 2021. Despite weaker worldwide growth estimates.

Read more about: Economy of Egypt

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Will Oil Prices touch triple Digits in 2022? If it reaches what will the effect on growing nations.

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Oil slipped towards $84 a barrel, the first weekly loss in about two months.

The Crude has been hovering around $88 per barrel since the last 2021 ending. Can we see Oil Prices touch triple digits in 2022? If it goes there, what will impact growing nations like India and all?

oil price per barrel near 88

Market sentiments in the oil market are upbeat. Demand may rise as omicron’s fear is getting lesser with time. Now the question is will we see oil prices touch triple digits in 2022.

Last year from November 2022, we have to see the Global benchmark brent crude jump by 25%. It is around $88 per barrel from November 2022. Market analysts suggest demand will grow. Omicron’s fear is getting lesser now, which will spark demand, and Oil prices may increase in 2022.

However, prices fell towards the end of the year as new variants emerged, and conditions were placed again in several nations to contain the Omicron variant’s spread. Prices began rising at the close of the year, gaining permission from the record highs achieved in financial market indicators. Gains were supported by the reopening of economizing and anticipated faster economic development in the near term.

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Dubai 2040: Residents’ lives will be transformed by the Urban Master Plan

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Dubai 2040 Urban Master Plan

Dubai 2040 Urban Master Plan, which describes Dubai’s development over the next two decades. Involves significant changes to the city’s landscape and skyline.

A wide range of initiatives aim to provide residents with the best possible quality of life. While developing the next phase of its residential and economic growth. It is Dubai’s seventh urban master plan of its kind since 1960.

The heart of tradition remains Deira and Bur Dubai. While Downtown Dubai and Business Bay act as the financial center of the emirate. The center of tourism and entertainment is Dubai Marina. While Expo 2020 is the gateway to international exhibitions.

According to Gurminder Singh Sagoo, director of professional services at WSP in the Middle East.  A professional urban planner with three decades of experience.

ALSO READ: Schools in Abu Dhabi look forward to classes

Dubai 2040 is easy to understand and people can relate to it. Also, the plan outlines a vision for how Dubai will look in the future, according to experts.

Google the 2040 master plan

Today, when you Google the 2040 master plan, you’ll see social media is really awash in it. Social media users are talking about it, not urban planners and engineering consultants.

“It’s people like you and me talking about it.” “It’s ordinary people.” “That’s what makes the master plan so impactful,” Mr. Sagoo said.

The plan will further encourage growth that the people of Dubai are used to. “It shows them where the economy is heading and helps them visualize a thriving economy which has diversified and hopefully gives consumers confidence.” Once the center of Dubai, the plan envisions regeneration of ‘older’ areas like Bur Dubai and Deira.

The plan aims to ‘unlock’ the potential of new parts of the city, something that has happened in other developing cities around the world as well.

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In February, the UK’s Prince William will visit the UAE

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Prince William will visit Dubai to mark the UAE’s 50th anniversary

During the Duke of Cambridge’s first official trip to the UAE, on February 10. Prince William will visit Dubai to mark the UAE’s 50th anniversary during the UK booth’s celebrations at Expo 2020 Dubai. The pavilion will take up most of Expo 2020 Dubai, and it will showcase talent from across the UK.

The Queen’s Baton Relay for Birmingham 2022, announced by Queen Elizabeth II in October, will take place at Expo and visit pavilions of Commonwealth nations.

Prince William will also visit the UAE as part of his visit to the UAE that strengthens the relationship between the UK and UAE.

On his visit to the UAE, Prince William will meet Emirati youth and government leaders. There will also be a discussion of two Royal Foundation programmes: United for Wildlife and The Earthshot Prize.

As an avid conservationist, Prince William will learn about UAE initiatives to prevent climate change and protect the flora and fauna of the region.

ALSO READ: UAE prohibits owning of knives for work

In 2014, Prince William established United for Wildlife, a global conservation initiative that brings together seven conservation organizations to combat the trade in illegal wildlife, which threatens the world’s most iconic species. United for Wildlife included innovators, a country, and a city that had made extensive contributions.

Prince William will gain more insight

There are many countries in the world taking action against this $150 billion criminal enterprise, including the UAE. During his visit, Prince William will gain more insight into how UAE public-private partnerships are helping to achieve this goal.

Prince William set up the inaugural 2021 Earthshot Prize, which includes innovators, countries, and cities as winners. The winners of this first prize were also showcased at Expo 2020.

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