THE MINISTER OF PLANNING AND ECONOMIC DEVELOPMENT REVIEWS THE DRAFT SUSTAINABLE DEVELOPMENT PLAN 2022-2023 AT THE MEETING OF THE PLANNING AND BUDGET COMMITTEE IN THE HOUSE OF REPRESENTATIVES
Egypt’s Minister of Planning & Economic Development, Dr. Hala El-Said reviewed the statement of the investment plan for the fiscal year 2022-2023 at the meeting of the Planning and Budget Committee in the House of Representatives, headed by Dr. Fakhri El-Feki, Chairman of the Committee.
El-Said talked about the development of the Egyptian economy indicators, pointing to the growth of the Egyptian economy during the first half of the fiscal year 21/2022.
El-Said explained that the highest semi-annual growth rate since the beginning of the millennium was achieved, supported by the significant growth in the first and second quarters, which amounted to about 9% compared to the corresponding growth rate in the previous year 2021/20, which amounted to 1.3%, affected by the Coronavirus pandemic.
El-Said confirmed the continuation of good performance in most sectors during the second quarter of the current fiscal year 2021/2022.
El-Said pointed out that the restaurants and hotels sector achieved remarkable growth with the return of tourism activity to recovery at a rate of 62.7% and the growth of the sectors of the Suez Canal, communications, and industry at high rates, bringing the growth rate of the telecommunications sector to 16.7%, the Suez Canal sector 13%, and manufacturing industries by 10.1%.
El-Said pointed to the annual unemployment rate in 2021, explaining that it decreased to 7.4%, a decrease of 0.5% from the previous year 2020.
This included a decrease in unemployment rates for both males and females, explained by a decrease in the male unemployment rate from 6 to 5.6%, and a decrease in the female unemployment rate from 17.7% to 16% in 2021.
El-Said added that the total number of employees reached 27.1 million, compared to 26.1 million employees in 2020, with an increase of 3.7%.
El-Said explained that the rate of contribution to economic activity in 2021 increased to 42.9% of the total population of 15 years and over, compared to 41.5% in 2020, driven by the increase in contribution rates for both males and females, where the male contribution rate increased to 69% compared to 67.4% in the year 2020.
The female contribution also increased to 15.2%, compared to 14.3% in 2020, which indicates that the rate of contribution to economic activity among males is four times the amount among females.
El-Said stressed that the investment plan for this year takes into account the global crises and the repercussions of the Russian-Ukrainian war, as well as seeking to maintain the rates of achievement of the goals of national projects and development plans.