Gov’t targets investments worth EGP 1.25 tn in FY2021-2022
The government expects Egypt will see a total of EGP 1.25 tn in public and private sector investments in FY2021-2022, up from the EGP 740 bn the government had projected for the current fiscal year, Planning Minister Hala El Said said in a statement. These investments include some EGP 469 bn from state investments — or 27.6% of the EGP 1.76 tn total spending — which Cabinet has previously said will focus mainly on improving the quality of public services and infrastructure.
Where can we expect to see more investments? What the state calls “productive industries” — including manufacturing, CIT, and agriculture — are expected to see a 125% y-o-y increase in investments during the upcoming fiscal year, while investments in developing the country’s human capital will grow 70% y-o-y, the statement says. It is unclear how the ministry sees public and private investments splitting in those totals. El Said had previously said the government aims to dedicate 30% of its investment budget to green projects in FY2021-2022.