Cairo – Mubasher: The total value of investments set at Egypt's 2021/2022 plan is estimated at EGP 1.25 trillion, the Egyptian Minister of Planning Hala El-Saeed announced on Sunday.
During the plenary session of Egypt's Senate, El-Saeed remarked that higher investment rates to 17.6% are expected to result in an economic growth rate of 5.4%.
In the 2021/2022 plan, public investments are valued at around EGP 358.1 billion, representing 5% of GDP, with social services representing 58% of the total investments followed by transport and sanitation services with 18.6%.
In the meantime, the plan is forecast to dedicate about EGP 317 billion for private investments, accounting for 25% of the total investments.
The Egyptian Minister of Planning remarked that the net foreign direct investments are expected to reach $7 billion in fiscal year (FY) 2021/2022.
The International Monetary Fund forecast that the net FDI would increase to $8.3 billion in FY 2021/2022, $11.4 billion in 2022/2023, and $14.6 billion and $16.3 billion in the following two years.
