The Egyptian economy is expected to settle at 3.3% in 2016 and at 4.3% in 2017 against 4.2% in 2015, said International Monetary Fund (IMF) in its World Economic Outlook. Moreover, Egypt's consumer price index is likely to hit 9.6% in 2016 and 9.5% in 2017 compared to 11% in 2015, IMF reported. Unemployment in Egypt is projected to reach 13% in 2016 and 12.4% in 2017 versus 12.9% in 2015. Earlier, Egyptian prime minister said that economic growth rate is expected to settle at 5-6%, clarifying that more progress in growth rate requires raising gross domestic savings to 9-10% of GDP instead of the present rate that is less than 6%. On 24 March, the government said that Egypt's social and economic development strategy for 2016/17 targets to register a growth rate of 5.2% in. In addition, unemployment rate is estimated to be cut to 10-11% by 2017/18, the government added.