Egypt's gov't directs investments of LE 71.4 bln to Upper Egypt's development

CAIRO - 7 July 2023: Egyptian government directed investments to the Upper Egypt regions, estimated at 71.4 billion pounds to develop the governorates of Upper Egypt during the new fiscal year of 2023/2024.

 

The public treasury finances about 44 percent of the total investment, at a value of 31.1 billion pounds, according to the report of the Senate Financial, Economic and Investment Affairs Committee on a draft law approving the economic and social development plan for the new fiscal year 2023/2024.

 

The parliamentary report indicates that the plan directs the largest percentage to the southern Upper Egypt region of the total government investments, with a value of 35.9 billion pounds, followed by the central region with a value of 24.9 billion pounds, then the northern region of Upper Egypt with a value of 10.6 billion pounds.

 

The Minister of Planning, Dr. Hala Al-Saeed, had delivered a statement on the draft development plan for the new fiscal year, explaining the most important pillars on which the 23/2024 plan was based, foremost of which is full commitment to the goals of the axes of the National Human Rights Strategy, in confirmation of the right to development that the Egyptian state attaches importance to.