This Research aims to Analyze The Role of Government Subsidies in Reducing Poverty in Egypt in the context of the Implementation of Economic Reform Programs during the period (1991–2023). The Study focused on tracking the development of Subsidy Policies, Poverty Trends, and Associated Macroeconomic Variables, such as Investment, Public Debt, Inflation, Unemployment, and the Exchange Rate. The study period was divided into four main phases that reflect the transformations of Economic and Social Policies in Egypt, Starting with the Economic Reform and Structural Adjustment Program in 1991 and continuing through the Comprehensive Reform Program in cooperation with the International Monetary Fund in 2016 and beyond. The Results showed that Subsidies, Despite their large size in some periods, did not lead to A Sustainable Reduction in Ooverty Rates. This was due to inefficient targeting and the erosion of the Subsidy's impact due to rising prices and Inflation, especially in light of the liberalization of the Exchange Rate. It also revealed that the Relationship between Subsidies and Poverty is affected by the Interaction of Several Macroeconomic Variables, most notably domestic Investment, the level of External debt, and the Unemployment Rate. This highlights the Importance of addressing Poverty within a Comprehensive Economic Framework, not solely through Subsidies. The study Recommends Restructuring the Subsidy System to be based on Smart targeting and Enhancing its Integration with Employment, Education, and Health Services Programs to Achieve Effective Social Protection and improve distributive justice in Egypt.