Osman: Average per capita income up

The average per capita income reached LE 6,843 during 2003/04 fiscal year, compared to LE 6,142 the previous year, said Planning Minister Osman Mohamed Osman. He attributed such change to an increase in the real gross domestic product (GDP) from LE 391 billion in 2002/03 fiscal year to LE 45 billion in 2003/04, up by an average of 4.1 percent.

He said family consumption reached LE 341.2 billion, up by an average of 2.7 percent, with food and beverages taking the lead in spending with up to LE 154.5 billion or 45.3 percent of the total family spending.

Services consumption increased to LE 93.4 billion last year against LE 82.7 billion the previous year, up by 3.4 percent in the real average growth or by 27.4 percent of the gross family consumption.

The Planning Minister said that 650,000 new jobs were provided in 2003/04. The workforce reached about 20.7 million, compared to 20.2 million the previous year, up by 2.6 percent.