84 of 2020 for the current fiscal year, which marks the third year of the medium-term sustainable development plan (2018/2019 to 2021/2022). In June, the Egyptian parliament approved the general report of the plan and budget committee on the draft of the third year plan (2020/2021) of the medium-term sustainable development plan (2018-2019-2021-2022), the state’s general budget project, budgets of the public economic bodies, and the budget of the National Military Production Authority for the fiscal year 2020/2021. Minister of Planning and Economic Development, Hala Al-Saeed, said earlier that there is general agreement that the 2020/2021 plan is an exceptional plan that differs from others in its directions, goals and priorities, in light of the conditions of exposure to the coronavirus crisis. Moreover, she stated that Egypt's unemployment rate to dip to 8.5% by end of 2020/2021 in case COVID-19 crisis ended during FY 2019/2020. “Egypt targets growth rate of 4.5% in 20/21 but might decline to 3.5% in case the outbreak of COVID-19 continued,” Saeed.

Source: Egypt Today July 08, 2020 10:18 UTC