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Ministers: Unemployment drops to 5.8% in Q2 2026
Egypt's economy achieved strong performance during the fiscal year 2025/2026, recording an economic growth rate of 5.1%, the highest in three years, compared to 4.4% in the previous year. The unemployment rate declined to 5.8% in the second quarter of 2026, from 6.1% in the same period of 2025. The overall budget deficit decreased to 5.8% from 7.1% the previous year. Inflation stood at 13.3%, down from 20.4%. International reserves reached a record level of $57.3 billion in September 2026. Additionally, Moody’s upgraded Egypt’s credit rating from Caa1 to B3 with a positive outlook, reflecting an improved financial and economic situation, while Standard & Poor’s and Fitch maintained their ratings at B, with expectations of continued financial performance enhancement and further reduction of external deficits.
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