PM: Egypt's Unemployment Rate Now Stands at 5.6 Percent

Prime Minister Dr. Mostafa Madbouly announced that Egypt’s unemployment now stands at 5.6%, down from 13% recorded a decade ago in 2014. Speaking at the Doha Forum 2024, he credited this reduction to the Egyptian government’s ongoing efforts to create job opportunities while navigating economic challenges over the past 10 years.

“Since 2014, Egypt has implemented major reforms aimed at boosting the private sector, revising laws and procedures to attract investment, and improving the investment climate,” said Madbouly.

The Prime Minister underscored that this transformation reflects a deliberate shift in economic policy designed to reduce the state’s role in the economy and encourage private sector growth against a backdrop of economic and geopolitical challenges. This strategic pivot, initiated two years ago, was aimed at fostering fair competition and ensuring sustained economic expansion. The Prime Minister also addressed the challenges posed by Egypt’s rapid population growth, which has seen an increase of 25 million people over the past decade.