Egypt allocates $14bln in investments for human development sectors in FY2025/26 plan
Arab Finance: Egypt has allocated EGP 700 billion in investments for human development sectors, including education, health, and other social services, for the fiscal year (FY) 2025/2026 plan, Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, announced.
This is compared to investments worth EGP 447 billion in the FY 2024/2025 plan, marking an increase of more than 56% of the total.
Al-Mashat's remarks came during her speech during the Senate plenary session, chaired by Abdel-Wahab Abdel-Razeq.
In the FY 2025/2026 development plan, a total of EGP 327 billion has been allocated for public investments in the health, education, scientific research, and other services sectors, representing over 28% of public investments for the same year.
The minister reviewed the pillars of the FY 2025/2026 plan and affirmed the commitment to rationalizing public spending and boosting its efficiency, while developing and localizing the manufacturing industry.
Al-Mashat addressed the economic reforms taken since March 2024, asserting that these measures improved the performance of the Egyptian economy. This was reflected during the first and second quarters of FY 2024/2025, recording a growth rate of 3.5% in Q1 and 4.3% in Q2.
The economic growth is expected to reach approximately 4% during the year.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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