Egypt Plans to Enhance Economic and Social Status
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In Egypt, the Ministry of Economic Planning and Development announces plans to reduce poverty in Egypt to 28.5% in the current fiscal year and anticipates reducing unemployment and illiteracy rates.
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Egypt announces plans to reduce poverty, illiteracy, and unemployment
The Egyptian Ministry of Planning and Economic Development declared its goal of reducing the country's poverty rate to 28.5% in the current fiscal year, compared to around 29.7% in the fiscal year 2019-2020.
This was in line with the Department's announcement of its key social development targets in the fourth and last year's 2021-2022 of the medium-term plan for sustainable development 2018-2019 - 2021-2022.
In addition to reducing illiteracy to approximately 17.5% by the end of the current fiscal year, compared with 25.8% in the 2017 census, and 18.9% in the 2019 census, the Ministry expects to see a significant decrease in poverty due to the implementation of the national project on the development of the Egyptian countryside (The Dignified Life Initiative).
According to the statement, the plan is intended to lower the unemployment rate to around 7.3% in the current fiscal year as opposed to 9.6% in 199-2020, while by the end of the current 2021-2022 the population growth rate would decrease to approximately 2% compared to 2.56% in 2017. In addition to the annual inflation rate decreased in the entire Republic to 6% in the plan year, compared with 13.3% in 2018-2019.
