Egypt's Cabinet is teaming up with the private sector to prepare a national programme for employment and training with the goal of reducing joblessness to 6 per cent by 2022, the country's state information service said on Friday.
The report came after a Thursday meeting focusing on Egyptian unemployment and attended by Prime Minister Hisham Qandil, several cabinet ministers and the Secretary General of the Social Fund for Development. Official figures show an unemployment rate of around 13 per cent as of mid-2012, with some 3.395 million Egyptians officially out of work. Minister of Planning and International Cooperation Ashraf El-Arabi was quoted as saying the government aims to reduce Egypt's unemployment rate to 9.5 per cent by 2017 and 6 per cent by 2022. Meanwhile, the Ministry of Trade and Industry said up to 20 million square metres of land will be allocated this year for industrial premises, potentially creating 4,000 factories and some 200,000 jobs.