The Ministry of Planning and Economic Development issues a series of reports reviewing the economic and social development plan for FY (22/2023)

Egypt’s Ministry of Planning and Economic Development started on Tuesday issuing a series of annual reports that review the economic and social development plan for the fiscal year (22/2023).


H.E. Dr. Hala El-Said, Minister of Planning and Economic Development, confirmed the directions of the sustainable development plan for the fiscal year 22/2023, its goals, and development programs, which were formulated according to a participatory approach that ensures coordination and cooperation among all development partners.

El-Said added that the plan pays attention to pivotal development issues and local, regional, and international developments, especially in light of the expected repercussions of global crises and current geopolitical events.
 El-Said explained that the plan adopted main objectives, each of which is based on several strategic directions, pointing to the first of those directions, which is the goal of building the Egyptian person and improving the quality of life of the citizen; In the implementation of the presidential initiatives aimed at achieving integrated rural development within the framework of a decent life initiative.
 El-Said pointed out that the plan highlights Egypt's keenness to adopt government initiatives that support sustainable green growth, so that its investments constitute 40% of the total public investments in the year of the plan, compared to 30% at present, and reach 50% by 24/2025.


El-Said added that the directions included strengthening the state's orientation to stimulate the participation of the private sector in development efforts by providing more investment opportunities and providing the necessary facilities to improve the business environment and reduce the cost of transactions.
The Minister of Planning and Economic Development indicated that the plan estimated the growth rate for the year 22/2023 at about 5.5%, which represents a conservative rate compared to the high expectations of international institutions for the Egyptian economy, which is approximately 6%, as well as compared to the rate achieved in 20/21 of 3.3%.
 El-Said added that all these rates are a continuation of the positive and distinguished development performance of the Egyptian economy in recent years, compared to the majority of countries in the world whose growth rates currently range between 3% and 4%.
 El-Said said that it is estimated that the GDP in the year of the plan will reach about EGP 9.22 trillion at current prices, with a growth rate of 16.1% over the output of the previous year, which amounted to about EGP 7.94 trillion, and the GDP at constant prices is estimated at EGP 8.4 trillion in the year of the plan 22/ 2023.

El-Said stressed that the development plan presented in the document is ambitious by targeting an economic growth rate of 5.5%, in light of the uncertainty of the developments of the pandemic and its repercussions, increasing the investment rate to 15.2%, containing the inflation rate to settle at 10%, the unemployment rate to become within 7.3%, and the continued decline in the poverty rate to less than 25%.
 El-Said added that the plan for the year 22/2023 aims to create a major investment boom, as for the second year in a row, the estimated investments exceed EGP one trillion, to record about EGP 1.4 trillion, compared to expected investments for the year 21/2022 amounting to EGP 1.2 trillion, with a growth rate of about 16.7%.





The report of the Ministry of Planning and Economic Development indicated that the high economic growth rate targeted in the 2023/22 plan is accompanied by continuing work to achieve the supreme goal that the government seeks, which is to increase the level of employment and reduce unemployment rates to its lowest levels.

 The report indicated that the plan aims to expand the labor market's absorptive capacity to reach 900,000 individuals while maintaining unemployment rates at 7.3%.