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Sunday, 20 November 2016

World Bank encourages progressive tax, other measures to alleviate poverty

World Bank encourages progressive tax: Imposing a progressive tax will help redistribute wealth and resources to low income citizens, said Asad Alam, the World Bank Group’s Country Director for Egypt, Yemen, and Djibouti. Finance Minister Amr El Garhy had stated earlier this month that the Ismail cabinet was mulling imposing such a tax. Among other things, Alam also argued that countries that have failed to battle poverty usually have faced issues with a lack of a competitive FX market and have held on to maintaining energy subsidies, he said at a talk held by the Egyptian Center For Economic Studies.

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