This would be a 50 percent increase, the minister said at a plenary session of Egypt's Senate on Sunday
The government’s 2021/2022 plan could see investments estimated at LE 1.25 trillion, stated Egyptian Minister of Planning and Economic Planning Hala El Said.
This would be a 50 percent increase, the minister said at a plenary session of Egypt's Senate on Sunday.
El Said also pointed at an increase higher investment rates, up to 17.6 percent, which is expected to result in an economic growth rate of 5.4 percent.
She highlighted this as a result of the direct relationship between investment and economic growth rates.
For the minister’s fiscal year (FY) 2021/2022 plan, public investments represented 5 percent of Egypt’s GDP at around LE 358.1 billion.
Social services saw 58 percent of total investments, followed by the transportation and sanitation services at 18.6 percent.
Private investments are estimated to reach LE 317 billion, around 25 percent of overall investments expected during 2021-2022.
El Said stated that the private sector is likely to contribute to 68 percent of Egypt’s GDP for 2021/2022, particularly in the areas of agricultural, tourism, real estate, construction and the industrial sector.
The Minister of Planning commented that net foreign direct investments are expected to reach $7 billion in FY 2021/2022.
