Poverty, unemployment shrinking: PM reviews Egyptian government’s success on path of development

CAIRO – 18 January 2021: Since the government of Mostafa Madbouly has been formed in mid-2018, numerous national projects have been implemented, even during the year of the pandemic. The coronavirus crisis has hit Egypt since mid-February.

Shrinking poverty and unemployment in the country, efforts to maintain economic growth amid the pandemic and Egypt’s ambitious plans towards self-sufficiency of petroleum products have been among most prominent remarks issued by Madbouly before the Parliament on Monday.

Egypt Today displays the most prominent messages of Madbouly to the newly-sworn in House of Representatives:

Health

- Egypt worked side by side with the Parliament to spare Egypt from the negative implication of coronavirus.

- The way Egypt has dealt with coronavirus has been the best among world countries and has been widely hailed.

- Egypt has been one of few countries that have achieved economic growth during the pandemic and among the best countries in this regard.

Energy

- Egypt succeeded in achieving self-sufficiency of natural gas.

- Egypt will achieve self-sufficiency from petroleum products in 2023.

- The government managed to secure addition 2700 MW of electricity with a total investment of LE 34 billion.

- The total investments in the petroleum sector reached LE 11 billion.

Economy and roads

- Egypt has implemented 100 percent of the economic reform program and budget deficit within the country decreased.

- The state managed to decrease inflation rate for the first time in 15 years to 5.7 percent.

- Egypt jumped up 90 places on the international road quality index.

- The state has implemented roads and bridges with a total length of 4,500 kilometers.

Social protection and housing

- The number of people included in the social protection programs has reached 32 million citizens.

- Cash support has been allocated for 3.6 million families included in relevant national programs.

- The state has almost built one million housing units throughout the past five years with a total investment of LE 54 billion.

- The number of beneficiaries from these units have reached 920,000 citizens so far.

Poverty and unemployment

- The poverty rate successfully decreased for the first time in 20 years (since 1999).

- The poverty rate has decreased from 32.5 percent in 2017/2018 to 29.7 percent.

- The unemployment rate has decreased to 7.7 percent in Q3 of the fiscal year 2019/2020, after it increased to 9.6 percent due to the pandemic.

National projects

- The state constructed 70 desalination plants at a cost of LE 13.25 billion.

- The state aims to provide sanitation service to 100 percent of the cities and 60 percent of the villages by 2022.

- The state has funded small and medium enterprises at a total value of LE 10 billion.

- Egypt has funded 2,575 national projects in Upper Egypt’s Qena and Sohag, securing 206,000 direct and indirect job opportunities.

- Five governorates have been included in the first stage of the “Decent Life” social support program, with a total investment of LE 2 billion.

- The first stage included 625 projects.

- The second stage, as per presidential directives, will include 20 governorates and will serve 18 million citizens.

- The housing projects have managed to secure 800,000 job opportunities for youth.