Egypt to allocate EGP 1.25 tln for investments in FY2021/22

Egypt plans to allocate EGP 1.25 trillion for investment in fiscal year 2021/2022, which starts in July, Minister of Planning and Economic Development Hala El-Said announced on Monday.

The Ministry of Planning and Economic Development reviewed the most prominent features of the investment plan for FY2022/21 and the general directions for the sustainable development plan for the same year.

El-Said explained that the most prominent general orientation of the sustainable development plan for FY2021/2022 is the careful commitment to implementing the mandates and initiatives of the political leadership, in line with the goals of the national agenda to achieve sustainable development within the framework of Egypt's Vision 2030.

El-Said added that the plan includes the fulfillment of the constitutional entitlements related to public spending allocations on health, education, and scientific research, as well as continuing efforts to contain the coronavirus pandemic and decisively addressing its economic and social repercussions.

She added that the general features of the plan also include giving priority to the high-productivity sectors that drive sustainable economic growth, chief among which are the manufacturing, communications, information technology, and agriculture sectors.