A recent report by Fitch Solutions has revealed that the expected average annual income for families will rise to EGP 109,000 by 2025, equivalent to EGP 9,000 a month.

The data was revealed by the Egyptian Cabinet’s Information and Decision Support Center (IDSC), which undertook a review of the Fitch Solutions report about the expectations of Egyptian family characteristics until 2025.

The report was published under the title “The recovery of household income by 2025: Fitch expects”.

The report expects that the expected annual average income for families during the year 2025 compares to the 2021 data of EGP 76,000 annually, equivalent to EGP 6,000 per month.

The IDSC noted that Fitch Solutions expects that the percentage of families whose annual income exceeds EGP 156,000 will rise to 11% in 2025, compared to 4.6% in 2021.

Fitch Solutions also expects the growth of Egyptian household income driven by economic growth and the stability of the inflation rate, as well as a decrease in the increase rate in the number of families until 2025 from previous years. This means there will be 29 million families in 2025, compared to about 27 million families in 2021.

Fitch Solutions expects a growth in the size of the Egyptian middle class, whose annual income ranges between EGP 78,000 and EGP 156,000. This makes it one of the fastest growing classes in the world, increasing by 58.2% in 2025, compared to 34.3% in 2021.

© 2021 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.