10 figures from Egypt's promising economic plan in 2021/2022 surpassing expected growth

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Thu, 27 May 2021 - 10:23 GMT

Minister of Planning Hala al-Said - FILE

Minister of Planning Hala al-Said - FILE

CAIRO – 27 May 2021: The economic and social plan of 2021/2022 by the minister of planning outlines promising figures as part of the medium-term sustainable development (2018/2019-2021/2022).

Minister Hala al-Said has presented the plan to the parliament, saying the plan adheres to the constitution, inclusive growth, communal participation, and equal opportunities. Below are 10 of the most important figures in the plan:

1 – High GDP growth rate of 5.4% compared to the expected growth rate of the financial year at 2.8%.

2 – Increasing real GDP per capita by 3.4%.

3 – Saving rate at 11.2% compared to 5.5% in 2020/2021.

4 – Investment rate to 17.6% compared to 13% in 2020/2021.

5 – Net foreign direct investment at $7 billion compared to the expected investments of 5.4 billion in the same year.

6 – Increasing non-oil merchandise exports by 10% to reach $19.5 billion compared to $17.9 billion in 2019/2020 and the expected $17.7 billion in 2020/2021.

7 – Remittances from Egyptians abroad at $30 billion compared to $25.2 billion in 2018/2019.

8 – Tourism revenues at $6 billion compared to the expected $2.4 billion in 2020/2021.

9 – Suez Canal revenues at $6 billion compared to the annual average achieved in the previous year at $5.7 billion.

10 – International reserves of foreign exchange at $42 billion at the end of 2022.

 

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