Egypt’s GDP is expected to witness a growth by 11.7 percent in FY2021/2022 (starts in July) to reach 7.1 trillion Egyptian pounds, up from 6.4 trillion pounds achieved in the current FY2020/2021, as according to Minister of Planning and Economic Development Hala El-Saeed.
El-Saeed’s statements came while delivering the closing statement of Egypt’s development plan – included in the FY2021/2022 budget plan – before the Parliament’s general assembly meeting held on Sunday.
El-Saeed also reviewed Egypt’s sustainable development medium-term plan, which ends FY2021/22.
El-Saeed added that the FY2021/22 budget plan targets a significant surge in total investments – compared to the previous fiscal years – to post 1.25 trillion pounds, a level that Egypt is expected to reach for the first time.
She also noted that the government intend to pump huge investments in FY2021/22, with the aim of directing 38 percent of total investments to the commodities sector, including agriculture, industry, energy and construction areas.
Addition, 35 percent of the total investments will be allocated for production services and 27 percent will be appropriated for social services, including education and health among other sectors, as according to the minister.
