one cannot draw a conclusion of "a substantial part of the population has little if any savings" by recent figures of savings. You need to see stock figures. The stock of household savings stands still high. However, the declining trend of household savings can be explained: 1) stationary population; 2) less "forced savings" through mortgage payment as house prices have declined since the 1980s.
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- [Pen-l] Egypt most repressed, undemocratic and ruthless police states, (continued)
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