10 Most Conservative Countries in the World and their Economic Development

5. Arab Republic of Egypt

Personal Income Tax Rate (2022): 7%

Corporate Tax Rate (2022): 22.5%

Annual Social Assistance Spending as a percentage of GDP (2015-2020): 2.92%

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The Arab Republic of Egypt reports a GDP per capita of $17,120 and a GDP growth of 4.2% as of 2023. Egypt spent an annual 2.92% of its GDP on social welfare from 2015 to 2020, as reported by the World Bank. It is ranked among the most conservative countries in the world, with a personal income tax rate of 7% and a corporate tax of 22.5%.