Protesting on an Empty Stomach

Protesting on an Empty Stomach

By Donal on Tue, 02/01/2011 - 1:33pm |

Any number of political and social factors underpins the current unrest in Egypt — and as always, economics figures in. The upheaval has shined a light on two serious problems facing the country: Most jobs pay too little, and most food costs too much. ...

Egyptians are particularly vulnerable to increases in food prices because they spend an unusually high proportion of their income on food, according to a recent Credit Suisse survey. "Food inflation is a specific issue" in the country, the report notes, "having reached over 20 percent—amongst the highest rates globally." Egyptians spent more on food than respondents in any other emerging economy surveyed in the report—about 40 percent of their monthly income, versus about 17 percent for Brazilians and about 20 percent for Chinese and Saudi Arabians, for instance.

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http://www.slate.com/id/2283217?wpisrc=xs_wp_0001