Egyptian gov't aims to provide 800K new job opportunities in new FY23/24

CAIRO - 9 June 2023: The Egyptian government aims to provide 800,000 new job opportunities, according to the report of the Financial, Economic and Investment Affairs Committee on a draft law approving the economic and social development plan for the new fiscal year 2023/24.

 

According to the parliamentary report, the government aims to reduce the unemployment rate among young people in the age group (15-18 years) out of the total number of unemployed, as well as reduce the unemployment rate among holders of university qualifications and narrow the gap in urban unemployment rates compared to rural areas (26.6% compared to 13.1%).

 

The parliamentary report confirmed that the plan includes a number of initiatives supporting medium, small and micro enterprises, as they provide real and quick job opportunities.

 

The parliamentary report indicates that the plan showed the structural imbalances of the unemployed and the market’s failure to absorb all groups wishing to work, and thus the noticeable rise in unemployment rates between urban and rural areas and between the regions and the spread of employment in the informal sector.

 

The Minister of Planning, Dr. Hala Al-Saeed, had delivered a statement on the draft development plan for the new fiscal year, explaining the most important pillars on which the 2024/23 plan was based, foremost of which is full commitment to the objectives of the axes of the National Human Rights Strategy.