Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Planning Min.: Egypt to Invest EGP 376.4 Billion in 2022/2023 Fiscal Year

Wed 11 May 2022 | 03:09 PM
Ahmed Moamar

The Russian-Ukrainian crisis-affected sectoral growth expectations and investment flows in Egypt and abroad.

In light of this crisis, the target growth rate was revised and reduced to 6%, with some decline expected in the year 22/2023 to 5.7% before resuming a trend of 6.2%. 5% in the two years following 2022/2023.

A report by the Ministry of Planning and Economic Development indicated that these rates are high compared to the rate achieved in 20/2021 of 3.3%, and compared to many other countries whose growth rates currently range between 3% and 4%.

Within the framework of public investments, the report indicated that the government apparatus is entrusted with investments amounting to  EGP376.4 billion, compared to 410.9 billion pounds for public economic bodies, at a rate of 27%, in addition to the investments of the public business sector companies estimated at EGP 75.7 billion.