Egypt Daily News – CAMPAS, the Central Agency for Public Mobilization and Statistics in Egypt said on Thursday that the unemployment rate in the country reached 6.7 percent in the third quarter of 2024, up from 6.5 percent in the previous quarter.
According to the Ministry of Planning’s statement, “The slowdown in growth came against the backdrop of the global economic crises and geopolitical tensions in the Middle East region, the effects of which were reflected in Egypt’s economic performance.”
It added that growth was also affected by “the contractionary policies pursued by the government to restore macroeconomic stability, most notably the governance of public investments.”
Egypt is among the countries affected by tensions related to the war in Gaza, which is currently expanding in Lebanon, and the related Houthi attacks on some ships passing through the Bab al-Mandab Strait, which led to the diversion of many shipping lines away from the Suez Canal.
