This paper provides a detailed analysis of the dynamics of moving in and out of poverty and inequality in Egypt, utilizing a recent, nationally representative panel survey. It studies the dynamics of poverty using both measures of income and measures of consumption. This provides an opportunity to compare poverty measures and dynamics using these two related, but not identical measures of economic well being. It also shows the difference between urban and rural families, and the use of region specific poverty lines. Regression methods are used to identify the determinants of chronic and transitory poverty over this period in Egypt, and the determinants of moving between and within income groups. The ultimate goal of this paper is to devise and recommend a set of high impact short term policies with immediate measurable results as opposed to grander schemes.