This money is going directly into the fabric of Egyptian society, and creating entrepreneurs in villages. The private sector is beginning to drive the economy and become the engine of growth, which no longer depends solely on the state, as in the past. The private sector is beginning to drive the economy. Baudouy said Egyptian President Hosni Mubarak and other leaders are turning outward and taking their place in the global economy. But the challenge in the region remains immense.
Unemployment rates are the highest in the world.
The population is continuing to grow at 2.7 percent a year. Jobs for 47 million new people entering the labor force will have to be found by the year 2010. The number of unemployed, now about 9 million, is conjectured to rise to 15 million by 2010. Willem Van Eeghen, a senior economist at the World Bank, discussed how education in the region has evolved from a privilege to a right. He went on to say, From 1960 to 1985 there has been an expansion in education in every country, an expansion in enrollment and average years of schooling.