Egyptians returning from the Gulf face uncertain economic future
While studies expect an economic catastrophe in Egypt due to the coronavirus-related recession of the Gulf economy and the resulting demobilization of thousands of Egyptians working abroad, some observers believe that the return of Egyptian workers will develop an efficient Egyptian labor market.
CAIRO — A study released May 29 by the Institute of National Planning, a government institute, revealed that due to the spread of the coronavirus in Egypt and the precautionary measures taken by the state and some private sector institutions, such as curfews and reduced working hours, a potential increase in the unemployment rate is expected from 8% at the end of 2019 to between 11.5% and 16% by the end of 2020.
According to the numbers mentioned in the study, around 1.2 to 2.9 million citizens are at risk of losing their jobs, 824,000 of whom are already unemployed, not to mention the return of thousands of Egyptian workers from abroad.
