Egypt’s public investment in FY2020/21 is ‘unprecedented’: min. – Egypttoday

SourceEgypt Today
SectorEconomy
CountryEgypt

FILE - Egyptian currency banknotes CAIRO – 2 August 2020: Minister of Finance Mohamed Maeit stated Sunday that the size of public investment in FY2020/2021 is unprecedented as it is worth LE280.7 billion ($17.5 billion) with a 35-percent increase compared to the previous fiscal year.   The value of the treasury's contribution is more than LE225 billion while the rest is self-funded by various agencies, funds, and private accounts.   The aim of such investment is creating job opportunities, and inhibiting economic slowdown amid the COVID-19 crisis maintaining the outcomes of the economic reform program executed by Egypt over the past 4-5 years. The information center of the Cabinet published in June an infrograph highlighting financial allocations for the development and services sectors that are meant to improve...read more...