EGP 2 tln divided equally between public and private investments planned for FY2024/2025: Minister Mashat

Ahram Online , Thursday 15 Aug 2024

The total investments allocated in the current FY2024/2025 plan amounts to EGP 1.987 trillion, including EGP 1 trillion in public investments and EGP 987 million in private investments, according to Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat.

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Al-Mashat made her remarks in a meeting with Prime Minister Mostafa Madbouly on Thursday to discuss the executive plan for governing investment spending and increasing private sector investments.

She also pointed out that private investments represent 49.7 percent of the total net investments for FY2024/2025, indicating that the government is moving forward with enhancing the private sector’s contribution to economic activity and growth.  

Boosting the private sector aligns with the guidelines of Egypt’s $8 billion loan with the International Monetary Fund (IMF).

During the meeting, Madbouly emphasized the importance of committing to the EGP 1 trillion ceiling for public investments. 

Al-Mashat affirmed to Madbouly that the Ministry of Planning and International Cooperation has begun to take all the measures necessary for governing public spending, in conformity with the ceiling set by the government for public investments, and increasing private sector investments.  

Moreover, she said the ministry cooperates with several parties to reduce public investments and reconsider projects in terms of priority, with preference given to projects with implementation rates exceeding 70 percent.

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