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Thursday, 16 September 2021

EGP 4.4 trillion invested in projects in Egypt between 2014 and 2021: Planning minister

During this period, the petroleum and mineral wealth sector saw the highest cost of implemented projects, amounting to EGP 1.2 trillion

Doaa A.Moneim , Wednesday 30 Jun 2021
planning minister
Planning minister Hala El-Saeed
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Some EGP 4.4 trillion have been invested in projects in Egypt between July 2014 and June 2021, Minister of Planning and Economic Development Hala El-Said announced on Wednesday on the occasion of Egypt’s celebration of the 30 June revolution.

This amount is divided into EGP 2.4 trillion for projects implemented during the past six years and EGP 2 trillion in public investments in FY2020/2021, according to El-Said.

“This has resulted in many achievements, most notably the improvement in Egypt's ranking in international competitiveness indicators,” said El-Said.

During this period, the petroleum and mineral wealth sector saw the highest cost of implemented projects, amounting to EGP 1.2 trillion.

The electricity sector saw projects costing a total of EGP 403 billion, according to El-Said.

The cost of the projects implemented in the housing sector and the development of slums amounted to about EGP 225 billion, the minister said.

Concerning the transport sector, projects worth EGP 117 billion have been implemented, according to El-Said.

El-Said also added that EGP 51 billion were invested in projects in the health and pre-university education sectors.

On Tuesday, Egypt’s FY2021/2022 budget is expected to roll out with a total of EGP 2.6 trillion.

Egypt’s FY2021/22 budget plan targets a significant surge in total investments – compared to the previous fiscal years – to reach EGP 1.25 trillion, a level that Egypt is expected to reach for the first time, El-Said revealed while delivering the closing statement of Egypt’s development plan in FY2021/2022 before the parliament's general assembly meeting in April.

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