29 September 2022 03:55 PM

Egyptian Economy 8 in years

Wednesday، 06 April 2016 11:23 AM

The Media Center of the Council of Ministers published a report that dealt with the statement of account of the Egyptian economy during 8 years proving its strength and flexibility in facing crises, in light of the successive crises hitting the economies of the world. The report indicated:

Over the past eight years, the Egyptian state has sought a national economy that enjoys competitive and flexible potentials, contributing to enhancing growth levels in various sectors and improving investment climate, through: -
A package of comprehensive reforms, and various investment incentives.

Continuing efforts to raise the efficiency of the labor market

* Backing the sources of foreign exchange

The state adopts development plans within a participatory framework between its various sectors and development partners internally and externally, which has formed the cornerstone of the ability to withstand the current global crises and challenges that have affected the various economies of the world, especially with the strenuous efforts exerted by the state to tackle the various negative economic and social repercussions. These efforts will be reflected in the international institutions' view on the Egyptian economy and its management of the risks arising from international changes, especially at the economic level.

Growth rate
The Egyptian economy achieved the highest growth rate in 14 years despite the repercussions of the Russian-Ukrainian crisis, as the economic growth rate exceeds the global growth rate expected to reach 3.2% in 2022, to achieve 6.6% in 2021/22, compared to 2.9% in 2013/2014 .

Local production
Gross domestic product at current prices increased more than 3 times, reaching 7.9 trillion pounds (initial statement) in 2021/2022, compared to 2.2 trillion pounds in 2013/2014.

Unemployment rate
It continued to Achieving low levels of the unemployment rate and reach the lowest rate in more than 30 years, to record 7.4% in 2021, compared to 13% in 2014, while the unemployment rate recorded 7.2% in the second quarter of 2022.

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