By: Islam Fadl
Cairo – Mubasher: Egypt invested a total of EGP 940 billion in infrastructure projects over the last five years, the country’s minister of trade and industry Amr Nassar said.
The North African nation has set a plan to inject large investments in this sector in the coming period, Nassar added on the sideline of Egypt Economic summit on Tuesday, noting that the infrastructure sector faces a funding gap amounting to $40 billion.
The minister also stressed that the country aims to include small- and medium-sized enterprises (SMEs) into formal economy, adding that SMEs account for 40% of Egypt’s economy.
Previously, the Ministry of Finance revealed the allocation of EGP 212 billion ($13 billion) to several sectors such as infrastructure, energy, and exports, during fiscal year 2019/2020.
