Cabinet Allocates EGP 1.9 Trillion Investments for Current Fiscal Year
The investments are almost evenly distributed between the public and private sectors.
The Egyptian Cabinet has announced that EGP 1.987 trillion has been allocated for investments in the current fiscal year, with the amount almost evenly split between the public and private sectors. Public investments total EGP 1 trillion, while private investments contribute EGP 987 billion, making up 49.7% of the overall allocation.
In discussions with Prime Minister Mostafa Madbouly, Rania Al-Mashat, the Minister of Planning, Economic Development and International Cooperation, emphasized the introduction of measures to improve the governance of investment spending and to increase private sector investments.
The ministry has already begun implementing these measures to ensure oversight of investment spending and to boost private sector investments, following the Prime Minister's decision to cap public investments at approximately EGP 1 trillion for the current fiscal year.
These regulations apply to economic entities, public sector firms, and wholly state-owned companies.
Al-Mashat highlighted the ministry's ongoing efforts to reassess priorities in the 2024/2025 fiscal year plan. She emphasized collaborative efforts with ministries, their affiliated bodies, and regional authorities across all sectors to identify opportunities for reducing public investments and revising investment priorities, focusing on advancing projects that have achieved more than 70% completion.
- Previous Article Saudi Universities to Bar Students Without National Dress From Entry
- Next Article Travel Across History on Egypt's Most Iconic Bridges
Related Articles
Trending This Week
SceneNow TV
Events Calendar
