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China-Africa Trade Information Service
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China-Africa Trade Information Service
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Minister of Planning and Economic Development Hala el Saeed said the State has been keen over the past few years to proceed with the boom witnessed in public investments with a view to improving the quality of lives for citizens, raising the level of services provided, and stimulating comprehensive and sustainable economic growth.
Public investments in the current 2021/2022 fiscal year amount to about LE 933 billion with a growth rate of 46 percent compared with the past year, and a surge of 535 percent compared with the 2014/2015 fiscal year, she added.
Saeed made the remarks during her participation in the third edition of the Egypt Economic Summit, which has kicked off under the auspices of the cabinet.
The minister noted that Egypt has allocated approximately LE 3.6 trillion between FY2014/15 and FY2021/22 for public investments.
In addition, Egypt managed to attain 3.3 percent of GDP growth in FY2020/21 compared to 3.6 percent in FY2019/20, making it among the few countries globally to see growth amid the coronavirus pandemic, she said.
Egypt’s GDP growth is projected to jump to 5.5 percent up to 5.7 percent in FY2021/22, supported by the 9.8 percent GDP growth achieved in the first quarter, the minister noted.
