Egyptian jobless rate hits 30-year low of 7.5 pct in Q2

Source: Xinhua | 2019-10-28

Egypt's cabinet media center announced on Saturday that the unemployment rate in Egypt hit a 30-year low of 7.5 percent in the second quarter of 2019.
In an info-graphic posted on its official website, the center said the rate was 8.8 percent in 1991 and eight percent in 1990.
The report attributed this decline to the implementation of 9,039 projects by the government from July 2014 to December 2018 at a total cost of 2.1 trillion Egyptian pounds (130 billion U.S. dollars).
The drop was also attributed to loans and facilities granted to companies at a value of 144.2 billion pounds from December 2015 to June 2019, serving more than 565,000 clients.