In early 2020, Egypt’s population passed the 100 million-mark. Citizens under the age of 40 are estimated to comprise over 70 % of the country’s population, and the country’s labor force reached over 30 million citizens. That makes job creation increasingly vital to sustainable and inclusive growth and to the improvement of Egyptians’ livelihoods – and to a stable, regionally integrated, and prosperous Egypt.
About 97% of Egyptian enterprises today are micro. Micro, Small, and Medium Enterprises (MSMEs), as well as large private sector firms, are integral to the country’s ability to create jobs. The COVID-19 pandemic’s adverse effects on employment — which had decreased to 8% before the pandemic only to increase to 9.6% in the second quarter of 2020 — highlight the urgency of empowering entrepreneurs and private sector firms to enhance their competitiveness, flourish, and create more and better jobs.
“Job creation is a priority area in the World Bank’s support to Egypt,” said Marina Wes, World Bank Country Director for Egypt, Yemen and Djibouti. “Our support is offered through analytical and policy work, various funding operations as well as technical assistances. Those efforts are in line with the Bank’s extended Egypt Country Partnership Framework and MENA strategy, which highlight the importance of job creation – with a focus on youth – in creating an inclusive development model that caters to the region’s pressing needs.” she added.
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February 22, 2021 at 03:00PM
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Egypt: Job Creation for Better Livelihoods - World Bank Group
"creation" - Google News
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