CAIRO - 18 May 2023: Egypt's unemployment rate decreased in the last quarter of the calendar year 2022, to reach 7.2 percent, after it reached about 7.4 percent at the end of the calendar year 2021.
This came as Egyptian Minister of Finance, Dr. Mohamed Maait confimed in the financial statement on the state’s draft general budget for the fiscal year 23/24 submitted to the House of Representatives.
Maait said - in the financial statement - that this percentage is a reflection of the joining of about 706 thousand new workers to the labor force in the same year.
Maait explains that the current global economic crisis was accompanied by a continuous increase in the real growth rates of the Egyptian economy during the past years, which led to a continuous decrease in unemployment rates, which means that the achieved growth contributed to the creation of real job opportunities and in good numbers for those wishing to work.
The most important goal of any economic reform program, as creating decent job opportunities is the most important means of improving citizens' incomes and the best protection and social justice programs in terms of efficiency, impact and sustainability.
It is noteworthy that the size of the state’s general budget for the new fiscal year 2023/2024 (the general uses of the state) reached about 4.3 trillion pounds, compared to 3.066 trillion pounds for the current year 2022/2023.
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