CAIRO: Egypt’s sustainable development strategy aims to decrease unemployment to 5 percent by 2030, Minister of Investment Ashram Salman said in his speech before the U.S. Commercial Chamber in Cairo Sunday.
The private sector provides around 70 percent of job opportunities for Egyptians, Youm7 reported the minister as saying.
“The government program aims at achieving a medium-term economic growth rate of 7% by the end of Fiscal Year 2018/2019 ,” Salman said, emphasizing that the private sector is the main engine of job growth in Egypt.
Unemployment rate stood at 12.8 percent in 2015, head of the Central Agency for Public Mobilization and Statistics (CAPMAS) Abu Bakr al-Gendy announced Dec. 25, 2015. According to Gendy, Egypt’s annual inflation rate ranged from 10 to 11 percent throughout 2015 compared to 10.1 percent in 2014.