Egypt’s public investments rise to EGP 595m – Minister

By: Abdullah Bedeir and Islam Fadl

Cairo – Mubasher: Egypt’s public investments surged by 70% to EGP 595 million in 2020, the Minister of Planning and Economic Development, Hala El-Saeed, said.

Egypt has become one of three economies in the MENA region to achieve growth in 2020, thanks to the reforms that helped the country become more resilient to external shocks, El-Saeed stated in a speech on behalf of Prime Minister Mostafa Madbouly in the second edition of Egypt Economic Summit on Wednesday.

The country posted economic growth of 5.6% in fiscal year 2019/2020 and about 5% in the third quarter (Q3) of the same year, she added.

She revealed that a plan will be adoped by the beginning of 2021 to control population growth which rises by 2.5 million each year with expectations to reach 130 million by 2030. 

Mubasher Contribution Time: 02-Dec-2020 10:52 (GMT)
Mubasher Last Update Time: 02-Dec-2020 10:52 (GMT)