Cairo - Mubasher: President Abdel Fattah El Sisi on Tuesday said that Egypt needed about EGP 100 billion ever year to provide jobs.
Speaking on the sidelines of the World Youth Forum (WYF) in Sharm El Sheikh, El Sisi noted that providing a real job opportunity requires financing ranging between EGP 100,000 and EGP 1 million.
The Central Agency for Public Mobilization and Statistics recently stated that Egypt’s unemployment declined to 11.98% in the second quarter of 2017, compared to 12.5% in the Q2-16.
The number of unemployed people declined by 64,000 persons to reach 3.496 million people in 2017 compared to figures from 2016, while the workforce rose by 651,000 people in Q3-17 to reach 29.183 million people compared to the same period last year.
El Sisi stated that population growth is estimated at 2.5 million persons per year, who have needs such as education, healthcare, a job, and a place of residence.
Developed countries have a balanced population growth apart from developing countries, El Sisi added.
