• 13:20
  • Wednesday ,09 April 2014

70% of Egyptian youth believe traditional energy sources should be subsidised: ASDA’s Burson-Marsteller


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Wednesday ,09 April 2014

70% of Egyptian youth believe traditional energy sources should be subsidised: ASDA’s Burson-Marsteller

Egyptian government officials have previously stated that subsidised energy sources have been a burden on the country’s budget, and announced their intention to gradually cut them.

Interim Finance Minster Hany Kadry Dimian said in March that the government is considering restructuring the energy subsidies programme. He added that the government is looking into reducing the quantities distributed to beneficiaries, and the reduction rate will be determined according to rate of usage.
The 2014 Arab Youth Survey also pointed out that almost 90% of Egyptian respondents are concerned with the rising costs of living in the country; 61% are “very concerned” while 27% are “somewhat concerned”.
According to the report, 80% are concerned with the unemployment level in the country.
The Central Agency for Public Mobilization and Statistics (CAPMAS) stated that the rate of unemployment rate registered 13.4% of the population. According to the CAPMAS report, 3.6 million Egyptians are unemployed, which is a 0.5% increase from the previous quarter and a 57.3% increase compared to the same quarter in 2010. The majority of the unemployed youth, 39% of the total 69%, are aged between 20 and 24.
Around 71% of young Egyptians feel that individuals belonging to their generation are more likely to start a business compared to their older counterparts, the report said.
The report also assessed how Egyptian youth view traditional values and beliefs. Approximately 57% of respondents mentioned that “traditional values meant a lot to them”, while the remaining 43% believe that “traditional values are outdated and belong in the past”.
Of the 300 youth questioned for the survey, nearly 50% of respondents are Egyptian youth based in Cairo; around 25% are from Alexandria, and the remaining 25% from Mansoura. The survey defined “youth” as men and women between the ages of 18 and 24. The survey was also conducted in the MENA region and in several Arab countries, including Algeria, Jordan, Libya, Saudi Arabia and United Arab Emirates.