Egypt’s transport investments hit EGP 77bn in FY18/19

Cairo – Mubasher: Total investments in the Egyptian transport sector within the framework of the medium-term sustainable development plan stood at nearly EGP 77 billion in fiscal year 2018/2019, as compared with EGP 65.7 billion in FY17/18.

The plan aims to boost the transport sector’s growth rate to reach 4.1% this fiscal year, versus 3.2% in the previous year, planning minister Hala El Said highlighted in a statement on Thursday.

The sector’s growth rate is set to rise to 7.5% by FY22/21, El Said added.

The sustainable development plan also expected to boost the transport sector’s contribution to Egypt’s economic growth with 3.6% this year to reach 4.4% in FY22/21, she indicated.

El Said noted that the cost of implementing the sector's basic development programmes of the transport ministry and its affiliates amounted to nearly EGP 40.7 billion in FY18/19, with investments making up 58% of them.

The development of railway networks acquires the largest stake of 33% of the programmes’ total cost, followed by Cairo Metro’s expansion, making up 21% of the developments, according to the minister.

Mubasher Contribution Time: 06-Sep-2018 12:09 (GMT)
Mubasher Last Update Time: 06-Sep-2018 12:20 (GMT)