Mubarak's economics

"Mubarak presided over a process in which the national wealth passed into a few private hands while the majority of the population was impoverished, with 40% living below the poverty line of less than $2 a day, rising rates of unemployment, and job opportunities for the young blocked. In the last few months of 2010, Egyptians protested for an increase of the minimum monthly wage to less than $240, but the now departed Nazif government decreed that less than $100 was sufficient as a basic income. This, at a time when the prices of food staples and utilities tariffs increased at very high rates. Indeed, as one local economist asserted, every single commodity and service cost significantly more under the Nazif government – which is the government of business that ended progressive taxation and replaced it by a single unified income tax." (thanks Yasmine)