Unemployment rate decreases to 6.7% by 2021: GOV



Sat, 19 Aug 2017 - 07:48 GMT


Sat, 19 Aug 2017 - 07:48 GMT

 Prime Minister Shreif Ismail -  File Photo

Prime Minister Shreif Ismail - File Photo

CAIRO – 19 August 2017: The unemployment rate in Egypt is expected to decrease to 6.7 percent by 2021, according to a video released by the information and decision-making support center affiliated with the Cabinet on Friday.

The 3:37-minute video showing the state’s economic reform plan said that the whole strategy has six main principles, which include “getting rid of the currency overvaluation, reforming the tax system, developing the administrative structure and wages, putting a clear strategy of reforming the energy sector and finally enhancing the social security sources.”

According to the video, until now, the state’s plan succeeded in achieving a number of its targets and principles. “Several indicators say that some of the plan’s target succeeded,” the video stated, adding that by 2021 the unemployment rate is supposed to decrease to 6.7 percent. Also, the inflation rate is going to decrease until it reaches 7 percent, according to the video.

On August 16, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that the unemployment rate in Egypt reached 11.98 percent, as it was 12 percent by the begging of 2017.



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