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Planning: the poverty index decreased to 29.7 in 2020, and the unemployment rate in Egypt decreased by 7.7%


The Ministry of Planning and Economic Development, represented by Dr. Ahmed Kamali, Deputy Minister, participated in a series of webinars on the regional report on jobs and economic growth in North Africa “a study on the main macroeconomic indicators, labor market trends and the impact of the Covid-19 pandemic”, which is organized by the Economic Research Forum in cooperation with The International Labor Organization, with the support of the Swedish International Development Cooperation Agency, will be held from 5 to 8 July. The series of seminars includes a group of policy makers, academics, international organizations and other actors.

 

During his speech, on the first day of a series of seminars, which was held under the title “The degree to which the labor market is affected by changes and patterns of economic growth: the case of Egypt,” Dr. Ahmed Kamali explained that the issue of the labor market is one of the major challenges facing Egypt, especially since the competitiveness index shows the situation of the labor market. He stressed the importance of updating some data related to the labor market, noting another challenge in the rate of female participation in the labor market.

 

Kamali pointed out that the poverty index decreased to 29.7 in 2020, which is a positive thing, explaining that the unemployment rate in Egypt is 7.7%, which is a good rate compared to the unemployment rate in the Middle East, which reaches 26%, especially since the rate of entry into the labor market Annually about 850 thousand new people.

 

Kamali highlighted the timing of preparing the study of the main macroeconomic indicators and labor market trends. The end of 2018 was the time of the peak of the negative repercussions of economic stabilization, including an increase in the unemployment rate, which at that time exceeded 10%, and there was an increase in the inflation rate, which negatively affected the real wage There was also an increase in the informal sector, but this situation has now changed and the indicators are getting better.

 

On the impact of Covid 19, Kamali stressed that the government has intensified its efforts, by taking many decisions and measures aimed at confronting the crisis of the spread of the new Corona virus, and its economic and social repercussions, and within the framework of coordinating and integrating the efforts made, the Ministry of Planning and Economic Development is working to collect all the measures taken by the state to deal with The crisis is through follow-up monitoring aimed at introducing these procedures and facilitating access to them by all beneficiary groups, and in a manner that gives an integrated and comprehensive picture of the efforts made in facing this unprecedented crisis, through the Government Actions Monitor to confront the repercussions of Covid 19, which is available on the website of the Ministry of Planning, which is It includes the data of the beneficiaries of the sustainable development goals, the beneficiaries of social protection measures.

 

Kamali touched on the second package of economic reforms, as the national structural reforms program targets the three interconnected markets: the capital market, the trade market, and the labor market. With an increased focus on diversifying the productivity structure of three major priority sectors: agriculture, industry, and communications and information technology.

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