GDP
Prime Minister Mostafa Madbouli stated Monday that the "State Ownership Document," which will be launched soon, consists of eight areas, and is composed of just 20 pages.
Talaat added in a statement, Tuesday, that the communications and information technology sector has been the highest growing in Egypt for three consecutive years, with a growth rate of 16 percent.
The bank had raised its forecast in April by 0.3 percent to reach 5.6 percent in January.
The Egyptian food products have a good reputation at the local and international levels, adding that sector exports increased by 20 percent in 2021.
The main axis of the economic reform program is to increase the relative weight of the sectors of manufacturing, agriculture, communications and information technology, according to Minister of Planning Hala El-Said.
Gamea pointed out Tuesday that this great interest had the greatest impact in achieving qualitative leaps and developments in the Egyptian industrial sector at the level of legislation, new investments and expansions in cities and industrial areas, as well as the rise in export indicators for all industrial sectors during the past years.
The minister presented some features of Egypt’s policies to face global economic crisis.
The minister added that the GDP estimates for FY 2022/2023 are expected to register LE 9.2 trillion, up 16 percent as compared with FY 2021/2022 rates.
The Egyptian economy has “proven itself” in the face of challenges in such flexibility that it achieved a 1.46 percent primary surplus of GDP during the fiscal year 2021/2022, according to the Cabinet.
The Central Agency for Public Mobilization and Statistics (CAPMAS) released Tuesday figures on residential units built in FY2020/2021.
Countries in the Middle East, North Africa, Caucasus, and Central Asia regions are highly exposed to rising global food prices, particularly the price of wheat, which is expected to remain high throughout the year and into 2023.
El-Said added that public investments constitute 78 percent of the total investments in the 2022-2023 plan.
The majority of the increase came from the following sectors: construction (37 percent), followed by manufacturing (18 percent), education and health (9.4 percent), other services (8.8 percent).
This requires attaining tangible progress in digital transformation and collecting useful data, on which the AI applications depend, added the IDSC in its newly-issued series of "Visions on Road to Development".
Currently, the share of agriculture in the GDP is 15 percent, and 18 percent in exports.
Maait clarified that this is the result of the careful implementation of harmonious and balanced financial and economic policies.
She added that the growth rate is expected to rise to 5.4 percent during the current fiscal year, supported by the expected significant growth in the performance indicators for the first and second quarters.
El-Said added that the sector and outsourcing services to reach $6 billion, compared to the $3.5 billion targets for the 21/2022 plan year.
The Media Center of the Cabinet released Saturday the figures.
El-said clarified that this will create job opportunities in the sector, and increase the income of small farmers, whilst increasing exports.
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