Egypt's middle class cuts costs as IMF-backed reforms take hold
The world lender has long backed measures in Egypt including a liberal currency exchange market and weaning the public away from subsidies.
On the ground, that has translated into an eroding middle class with depleted purchasing power, turning into luxuries what were once considered necessities.
Nourhan Khaled, a 27-year-old private sector employee, has given up «perfumes and chocolates».
«All my salary goes to transport and food,» she said as she perused items at a west Cairo supermarket, deciding what could stay and what needed to go.
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