Egypt’s unemployment rate dropped to 11.8 percent in 2017 from 12.5 percent the year before, state statistics agency CAPMAS said on Monday. President Abdel Fattah el-Sisi has said he will cut unemployment to 10 percent over the next few years, a target that will require higher levels of economic growth. Egypt aims to boost revenues from cigarette and tobacco tax by about 7.072 billion pounds (USD 395 million) in the next fiscal year 2018-2019, which starts on July 1, a government document showed.
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