Public sector investments amounted to EGP 926 billion, marking a 6.3% increase from the previous year, according to a statement by Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat.
Egypt’s total executed investments for FY2023/2024 reached EGP 1.626 trillion, reflecting a 5.8% growth compared to the previous year, with an implementation rate of 98.5% of the EGP 1.65 trillion target set in the plan.
Public sector investments amounted to EGP 926 billion, marking a 6.3% increase from the previous year, according to a statement by Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat.
However, this figure represented 88% of the target of EGP 1.05 trillion, leading to a decline in the public sector’s share of total investments to 57%, compared to the target of 64%.
These statements came during Al-Mashat’s meeting with the Economic Committee of the House of Representatives to discuss the implementation of the 2023/2024 Economic and Social Development Plan.
During FY2023/2024, the private sector investments surged to EGP 700 billion, exceeding the EGP 600 billion target with an execution rate of 116%.
This resulted in the private sector’s share of total investments rising to 43%, surpassing the planned 36%, demonstrating Egypt’s commitment to fostering private sector-led growth in line with the State Ownership Policy Document.
Investments in education, higher education, scientific research, and healthcare totaled EGP 107.9 billion, surpassing targets, with these sectors accounting for 34.6% of total government investments, compared to the 24.4% planned share.
Meanwhile, infrastructure investments totaled EGP 180.6 billion, representing 57.9% of government investments, slightly below the targeted 66.3%.
This reallocation reflects the state’s prioritization of human capital development, with the share of these sectors increasing to 42.4% in the current fiscal year’s plan, reaffirming Egypt’s commitment to enhancing human development and meeting constitutional obligations.
Additionally, local development investments reached EGP 23.2 billion, accounting for 7.5% of total government investments, exceeding the 7.2% target.
Notably, Upper Egypt’s governorates received 35% of total local development investments, a significant increase from 21.4% in the previous year, reflecting the government’s focus on reducing regional disparities and promoting inclusive growth.
She projected that Egypt’s economy will grow by 4% by the end of the year.
