Minister of Planning
Prime Minister Mostafa Madbouli said the State is moving forward in adopting plans and proposals that would attract more domestic and foreign investments via ambitious programs meant to propel various economic sectors.
In statements, Planning Minister Hala el Said said that the mobile technology centers falls within the framework of the State's awareness of the importance of IT and its role in achieving sustainable development.
In a press conference held by Prime Minister Mostafa Madbouli on Wednesday, the minister said that the government expects the growth rate to reach 6.2-6.5 percent instead of 5.4-5.6 percent.
Planning Minister Hala el Saeid Sunday unveiled details about the MTP, which, she said, will also allow a bigger private sector participation starting from outline to implementation.
The minister noted that Egypt has allocated approximately LE 3.6 trillion between FY2014/15 and FY2021/22 for public investments.
Minister of Planning and Economic Development Hala El Saeed said 30 percent of the government’s investment plan for the current fiscal year cover green projects, adding that the government is targeting to increase the ratio to 50 percent by the fiscal year 2024/2025.
This came in a report that is recently issued by Ministry of Planning on the national project for the development of Egyptian rural villages, entitled “Decent Life”.
El-Said clarified that the average growth rate during the first nine months of the fiscal year hit about 1.9 percent, compared to about 5.4 percent in the nine months of 2019/2020.
She expected the net value of foreign direct investments (FDIs) to reach seven billion dollars during the year of the plan, noting this way it should be approaching pre-Covid levels.
IMPROVING CITIZENS' LIFE IS THE MOST IMPORTANT GOAL OF EGYPT'S SOCIAL AND ECONOMIC PLAN: PLANNING MINISTER
Egypt has also endorsed sustainability standards to guarantee transformation to a green economy, she added.
El-Said added during Human Rights Conference… "Building a Post-Pandemic World" that the global economy witnessed contraction of 3.9% during 2020 due to the repercussion of COVID-19, El-Said stated, noting that the global economy lost around $5.8 trillion during the crisis year.
El-Said clarified in a statement that there is a strategic stockpile of goods available.
The minister’s remarks came during her participation in the 2nd edition of the Aswan Forum for Sustainable Peace and Development, which kicked off on Monday.
Erada is a unit affiliated to the Cabinet and directly supervised by the planning ministry.
This came in the first issue of the "Follow-up to the Citizen Plan in the Governorates" report during the years (18 / 2019-19-2020), which includes an inventory of the projects that were fully completed during the same period, and linking them to the sustainable development goals.
El-Said, who is also Chairperson of the Board of Directors at the National Investment Bank (NIB), noted that the fund is in Egyptian pounds with a cumulative daily return.
She indicated that the number of development projects in the governorate reached 327 projects.
El-Saeed, affirmed her ministry’s keenness to direct public investments towards developing the infrastructure, especially the sectors of “transport, drinking water and sanitation, and electricity services.
The unemployment rate decreased to 7.3 percent in the first quarter of the current fiscal year, compared to 9.6 percent in the fourth quarter of 2019/2020.