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Elham AbolFateh

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Gov’t: 12.9% decrease in inflation rates in Egypt

Thursday 17/May/2018 - 01:46 PM
 Minister of Planning,
Minister of Planning, Follow up and Administrative Reform
Hassanein Tayea
Eng. Sherif Ismail، the Prime Minister chaired the cabinet meeting today Thursday in the presence of a number of ministers.
During the meeting، Minister of Planning، Follow-up and Administrative Reform، Dr. Hala Al-Saeed reviewed the economic and social performance indicators in the third quarter of the current fiscal year 20172018.
She added that the economic growth rate reached 5.4%، recording the highest economic rate over the last seven years.
The Planning Minister added that the ministry is targeting a sustainable growth rate and we are achieving a growth rate over the last four quarters.

In a press conference held at the Cabinet’s headquarters، Dr. Al-Saeed said that the high rate of growth has affected employment rates and provided more job opportunities.
She added that the Unemployment rates have fallen to 10.6% in the third quarter، compared to 12% in the same quarter last year.

She added that the ministry provided 400،000 jobs this quarter، 20% of which were obtained by the agricultural sector، 14% by the trade، wholesale and transitional industries sector، 13% by the building and construction sector، 12% by transport and storage.



The Minister of Planning pointed out that all sectors achieved positive growth rates، including the increase in the tourism sector، in addition to the rise in Suez Canal revenues estimated at 17.5%.
She also pointed out that there was a decrease in the inflation rates، which fell to 12.9% compared to 13.1%.
She added that Egypt exports increased by 12%، in the first nine months of the current fiscal year، reaching 17.5 billion dollars compared to 15.6 billion dollars in the proceeding period last year.

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