|08 August, 2019

Egypt’s unemployment levels down to 7.5% in Q2 2019

The decline in unemployment is an indicator of the success of the government’s economic plan: minister

Image used for illustrative purposes. businessman fired from job sitting sad outside office in city background

Image used for illustrative purposes. businessman fired from job sitting sad outside office in city background

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Cairo –  Egypt’s unemployment rate declined to 7.5% during the second quarter of 2019, compared to 8.1% in the first quarter, planning minister, Hala El Saeed, announced on Thursday.

The decline in unemployment is an indicator of the success of the government’s economic plan, the minister added.

El Saeed revealed that inflation rate went down to 7.8%, adding that the decline in inflation is a positive sign and that it confirms the growth in production.

Egypt’s international reserves increased by $565 million month-on-month in July 2019, according to a statement released on Tuesday by the Central Bank of Egypt (CBE).

Source: Mubasher

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