Additionally, El-Said indicated that Egypt also aims to achieve EGP 2 trillion in total private sector investments for FY2023/2024.
Public investments for the upcoming fiscal year are capped at EGP 1 trillion to bolster private sector involvement, aiming to raise private investment to 50% of total investments, up from 40% this year
The new target is significantly lower than the program’s previous successes, with the program securing around $5.6 billion between April 2022 and the end of last year.
The purpose of this participation is to discuss global challenges by increasing financing solutions, promoting private sector investments, and strengthening resilience against future shocks.
This decision came within the framework of ensuring the interests of workers, especially with the recent developments and economic changes internally and externally, El-Said added.
