A new report released by Egypt’s Statistics Body Central Agency for Public Mobilization and Statistics (CAPMAS) on Monday revealed that the rate of unemployment in Egypt has dropped to 11.8 percent in 2017, in comparison t0 12.5 percent the year before.
The figures presented by CAPMAS showed that the rate of unemployment among youth whose age range between 15 to 29 is 24.8 percent. The rate in this age segment reached 20 percent among males whilst it reached 36.5 percent among females.
On Sunday, Egypt’s minister of finance Amor el-Garhy stated during a general session at the parliament that the economic reform program undertaken by Egypt has contributed to the reduction of unemployment rate by 2,3 percent over the past three years, saying that the projects implemented by the government are providing new job opportunities.
In order to decrease the rates of unemployment, high rates of economic growth are needed. Egypt’s growing population also contributes significantly to the problem. In 2017, the number of unemployed people recorded some 3.46 million.
Additionally, the report of CAPMAS revealed that the unemployment rate in urban areas accounts for 14.5 percent, while in rural areas it recorded 9.8 percent.
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[…] The latest news regarding the Egyptian percentage of unemployment rate shows the decrease from 12.5%… The President Al-Sissi claims that his mission in the years to come will be to further decrease the unemployment rate and increase the economic growth. The CAMPAS recordings reveal youth unemployment rate of 24.8% among the young people aged 15-29 (20% males, 36.5% females). The Minister of Finance claims that the reduction of the unemployment rate in Egypt in 2018 can be owed to the implementation of economic reforms in the last 3 years that considerably reduced the unemployment rate. Not only that these reforms cut down the rate, but they’ve also opened new job positions and offered brand new opportunities. However, one thing that halts the Egyptian economic growth is, by all means, the growing population of this country. The data recorded last year show 3.46 million unemployed (14.5% in urban areas, 9.8% in rural ones). […]