Last Update 0:22
Wednesday, 26 June 2019

Egypt needs $61 bn in investments to grow at 5%: Investment Minister to Euromoney

Egypt's investment minister told Euromoney Egypt Conference that the country needs $61 billion in domestic and foreign investments to grow at five percent

Waad Ahmed , Monday 7 Sep 2015
Egypt
Egypt's Investment Minister Ashraf Salman talks to the media during the Euromoney Conference in Cairo, Egypt September 7, 2015 (Reuters)
Share/Bookmark
Views: 1577
Share/Bookmark
Views: 1577

Egypt needs LE400 billion ($51.1 billion) in domestic investments and $10 billion in foreign direct investments to grow at a rate of 5 to 5.5 percent of GDP, minister of investment Ashraf Salman told the Euromoney Egypt Conference on Monday.

Egypt has embarked on 'aggressive' fiscal policy reform since the election of president Abdel-Fattah El-Sisi in June 2014 to clench the widening finance gap.

The government is targeting a 5 percent growth rate in fiscal year 2015/16, up from the expected 4.2 percent in the previous fiscal year. 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
1



Tut
11-09-2015 04:14am
0-
1+
Cabinet coordination
LE 400b domestic investment is 500% growth over the current LE 75b government investment. To achieve that in 1 year it means that this big gap has to come from the private sector, assuming there is no typo in the article. As unrealistic as this is, let’s assume it’s doable; then the Investment Minister needs to coordinate with the other Cabinet Ministers, especially the Interior and Justice to lighten up on promoting extremism and instability through their thug policing and kangaroo courts; so that stability might see rebirth and investors might feel comfortable entrusting their money to domestic investments! Otherwise, it’s not an investment plan, it’s a pipe dream!
Email
 
Name
 
Comment's Title
 
Comment
Latest

© 2010 Ahram Online.