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Egypt seeks to double growth rate within four years - min.

Egyptian Minister of Planning and Administrative Reform Hala El-Said said the government seeks to up growth rate to 5.9-6%.

Egypt aims to double the growth rate within the coming four years, she said during the inauguration of a training session under the theme of reviewing the balance sheet.

She said the World Bank and the International Monetary Fund did not expect Egypt to manage to achieve the current growth rate.

Thanks to the economic reform measures adopted by Egypt, the inflation rate dropped from 33% in July to 13% in April, she said.

She noted that the government is currently expanding investments, citing national projects which secured thousands of job opportunities.

The Central Agency for Public Mobilization and Statistics (CAPMAS)  has said Egypt’s unemployment rate dropped to 11.8% in 2017 against 12.5% in 2016.

 The unemployment rate among youths - aging 15-29 years old -  stood at  24.8% in 2017.

Within this age group, 20% of males and 36.5% of females were unemployed.

According to CAPMAS, the labor force rose by 1.5% to register  29.474 million Egyptians in 2017 against 28.934 million in 2016.

The government has been adopting a policy to curb unemployment, especially through encouraging youths to establish small and medium-sized project.

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