Egypt Aims to Reduce Inflation to 8.5%

  • Cairo, Arab Republic of Egypt
  • 28 August 2018

Dr. Hala Al-Saeed, Minister of Planning, Follow-up and Administrative Reform in Egypt, pointed out that "the medium-term 2018-2022 sustainable development plan for social, urban and environmental development”, aims at reducing the population growth rate to 2.1% by 2022, from 2.65% in 2017, and the illiteracy rate to 20% by 2022 from 26% in 2018.
She highlighted that "the government also aims at stabilizing prices and reducing general inflation rate to 8.5% by the end of the plan, from where it stood at 14.3% in February 2018,” recalling that "the plan’s objective is to reduce the proportion of people living below the poverty line to 22% in 2022 from 27.8% in 2015 and to bring down the percentage to 24.5% in the first year of the plan 2018/2019.”
"The government is committed to reduce economic and social disparities on all Egyptian lands, so that the poverty gap rates does not exceed 20 percentage points among the governorates, and seeks as well to increase the participation of women and youth in the labor force in a way to narrow down the qualitative and age gap in unemployment rates."
Source: (Al-Hayat Newspaper, Edited)

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