Agricultural sector targets total investments of LE 33.3B

CAIRO – 25 January 2018: The agricultural sector targets total investments of about LE 33.3 billion during 2017-2018, the governmental plan showed.

The plan revealed that the private sector investments constitute 80 percent of the total agricultural investments.

The total public investments allocated to the agricultural sector and land reclamation programs in the 2017-2018 plan are worth about LE 2.3 billion, according to the plan.

The government shares in agricultural investments by LE 1.2 billion, representing 54 percent of the total public investments, according to the plan.

The agricultural development system project ranked first among the agricultural projects of 2017/2018, with LE 337 million.

Meanwhile, the public government investments for water resources and irrigation programs and projects reached LE 5.222 billion in the fiscal year 2017/2018, including undivided investments that hit LE 1.244 billion, and 24 percent of the value of the governmental investments in this sector, according to the government plan approved by the Parliament.

Egypt’s agricultural exports increased 3 percent in 2017 to record $2.2 billion, compared to $2.1 billion in 2016, according to Agricultural Export Council’s report.