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Elham AbolFateh

Egypt

Unemployment rate drops to 11.9%: Minister

Sada El Balad
Sada ElBalad-Nada Moustafa
Planning Minister، DR. Hala Al-Saeed said that the unemployment rate fell from 12.5% in the fourth quarter of the last fiscal year to 11.9% in the same quarter of the current fiscal year.

The minister added in a press conference held at the cabinet headquarters، that the increasing of growth rate by 5% caused the decline of the unemployment rates.

Al-Saeed pointed out that Egypt has achieved a growth rate not seen since the global financial crisis in 2008.

Noteworthy، President Abdel Fattah al-Sisi has pledged to reduce joblessness to 10 percent over the next few years، a target that will require higher levels of economic growth.

Egypt’s exports are expected to increase to $22.5 billion by the end of 201718 compared with the $20.5 billion it reached by the end of the previous year، Planning Minister Hala al-Saeed said in a statement.

She predicted exports to rise above $30 billion by the end of the 201920 fiscal year.

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