Egypt – New strategy aims to decrease unemployment rate to 5% by 2030

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By (Danny Romero)

Egypt aims to bring down the unemployment rate to 5% by 2030 with a development strategy set forth by the Minister of Investment, Ashram Salman.

“The government program aims at achieving a medium-term economic growth rate of 7% by the end of fiscal year 2018/2019,” Salman said.

Salman stated that the private sector is the main driver of economic growth in Egypt. The private sector provides about 70% of job opportunities for Egyptians, according to the Minister.

The unemployment rate in Egypt was 12.8% in 2015, with the annual inflation rate ranging from 10 to 11% throughout 2015 compared to 10.1% in 2014, according to CAPMAS (Central Agency for Public Mobilization and Statistics).

Source:: Staffing Industry Analysts Daily Newsfeed

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