During its discussion of the main features of the 2022/21 plan before the Parliament's Plan and Budget Committee
26 April 2021
Dr. Hala El-Said, Minister of Planning and Economic Development, discussed the main features of the 2022/2022 plan of the medium-term sustainable development plan (2019/18 - 2022/21) before the Plan and Budget Committee in the House of Representatives.
Hala El-Said emphasized that what the Egyptian state pumps in the coming period would contribute to improving the quality of life, explaining that it represents activation packages that work to improve the quality of life of citizens as well as contribute to creating a state of movement within society.
El-Said pointed out the investment package that will be pumped into the "Decent Life" presidential initiative, which will contribute to operating many factories, workshops, and contractors, thus contributing to a state of activity and growth at the national level, explaining that expectations revolve around 77: 78% of the growth will come from investment and around 17% of consumption and consumer spending.
Concerning the GDP at current and constant prices, El-Said explained that it is expected to achieve EGP 7.1 trillion in a gross domestic product at current prices, and EGP 4.3 trillion in constant prices, taking into account the achievement of a growth rate in the gross domestic product at current prices of 12% and 5.4% a growth rate in output.
Regarding the most important sectors that achieve growth, El-Said pointed to the tourism sector, explaining that 23% is expected to grow in the tourism and hotels sector and that the telecommunications sector is expected to continue to grow, as it is intended to maintain growth at 16% and increase its percentage of output as it represents 2.8% and is targeted in the medium-term plan over the coming years to reach 5%, and the target for construction and building to 8%.
On the investments of the 2021/2022 plan, El-Said asserted that there is a boom in investments, where for the first time investments exceed EGP one trillion to reach EGP 1,250 trillion, an increase of 51%, explaining that the investment rate will reach the 17.6% point, which is the most important point in a way that contributes to reducing the gap.
El-Said explained that the total investments include public investments at 75% of the total investments, amounting to EGP 933 billion, and private investments, 25%, at a value of EGP 317 billion.
"The volume of private investment has doubled compared to the past five years, indicating an increase in government sector investments by 21%, an 83% increase in investments by economic bodies and public companies, and a 50% increase in central investments,." She said.
El-Said indicated that the per capita share of public investment has increased by 44% in 2021/2022 and an increase of 150% over the year 2016/2017, which is one of the important indicators.