Egypt targets EGP 600 billion from private investments during the fiscal year 2023/2024 (FY23/24), at a rate of 36% of the total targeted investments, according to a report released by the Ministry of Planning and Economic Development.

In FY22/23, Egypt expected an increase in private investments by around 31%, in addition to an actual rate of 29% in FY 21/22.

Based on a report by the ministry, public investments amount to EGP 1,050 billion, accounting for 64% of the total. Among the public investments, EGP 587 billion (56%) is attributed to the government apparatus, EGP 384 billion (37%) to economic bodies, and EGP 79 billion (7%) to public companies.

The report confirmed that the 2023/2024 plan estimated the economic growth rate at about 4.1%, explaining that these estimates align with those provided by international institutions, which indicate that Egypt is expected to achieve a growth rate ranging between 4% to 4.3% in FY23/22 and FY24/23.

The gross domestic product is expected to reach EGP 11.84 trillion during FY23/24, compared to EGP 9.8 trillion in FY23/22.

To achieve the desired rate of economic growth, the plan aims to increase total investments to reach about EGP 1.8 trillion in FY23/24.