By Febronia Hanna
As part of the “Inclusive Growth and Job Creation Conference”, Dr. Hala Al-Saeed, the Planning Minister, announced that there will be a total of 26 billion Egyptian pounds directed to the development of the governorates of Upper Egypt.
The aim of these developments is to increase job opportunities for youths that live there, further decrease the numbers of unemployment and achieve a more productive environment, this directs the country to increase the investments rates that should replace the consumption rates leading to economic growth.
She also stated that between the fiscal years 2015/2016 and 2016/2017, there were a total of 710,000 jobs provided which means that unemployment rates reached 11.3 percent in the second quarter of 2017/2018 and is expected to reach 8.5 percent by 2021/2022.
She added that the growth rate reached 5.3 percent in the second quarter of the current fiscal year which is the highest Egypt have reached since the fiscal year 2008/2009.