Last Update 16:53
Friday, 15 November 2019

Egypt's unemployment rate drops to lowest rate in 30 years

MENA , Saturday 26 Oct 2019
Unemployment rate
Egypt's unemployment rate from 1990 to 2019 (Source: Ministry of Planning, Ministry of Finance, Central Bank, Central Agency for Public Mobilization and Statistics)
Views: 2419
Views: 2419

Egypt's cabinet media center announced that the unemployment rate in Egypt reached the lowest level in 30 years with 7.5% in the second quarter of 2019, compared with 9.9% one year earlier. 

The drop has been achieved thanks to main factors; including the implementation of 9,039 projects by the state during the period from July 2014 to December 2018 at a total cost of EGP 2.1 trillion, the center said in an info-graphic posted on its official website on Saturday.

The drop was also attributed to loans and facilities granted to companies and MSEs institutions at a value of EGP 144.2 billion during the period from December 2015 to June 2019, serving over 565,000 clients.

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