Total investments in the 21/2022 plan reach EGP 1.2trn: Planning Minister

Hala El-Said, Minister of Planning and Economic Development, said that the total investments for the 2022/21 plan are estimated at EGP 1.2trn.
El-Said pointed out that it is intended to increase these investments in the year of the plan at a rate of more than 50%, which is an unprecedented growth rate.


This came during her attendance at the Senate plenary session today headed by Counselor Abdel Wahab Abdel Razek, President of the Senate, and in the presence of the Senate members.


El-Said pointed out that government investments are estimated at EGP 358.1 billion in the 2022/21 plan (5% of the gross domestic product).
El-Said noted that social services occupy the first place of those investments with a rate of 58%, and the second place is transport and sanitation services, at a rate of 18.6.


She added that the telecommunications and agricultural sectors occupy the third and fourth places, while the electricity, water, construction, construction, real estate activities, and information sectors occupy between 1.1% and 2.4%.

As for private investments, El-Said explained that it is estimated that it does not exceed EGP 317 billion (25% of the total investments expected for the 2022/2022 plan), compared to 23% the previous year with the beginning of corona's decline.

El-Said asserted that in light of the state’s drive to move the wheel of private investment, presidential initiatives are expected to be extended to cover their timeframe in 2022/2022, especially the initiative to improve the quality of citizens ’quality of life and achieve comprehensive rural development, the initiative to support the local product, offer national products at low prices, and the initiatives of the Central Bank.



She also clarified that net foreign direct investment is expected to reach $ 7 billion in the year of the plan, and to return to approaching what it was before the outbreak of the Coronavirus pandemic.


The International Monetary Fund (IMF) estimates that net foreign direct investment will rise to $ 8.3 billion in 2022/21, then to $ 11.4 billion in 2023/2023, and will continue to rise to $ 14.6 and 16.3 billion in the following two years.


El-Said pointed out that international reports praised the improvement of the private investment climate in Egypt - despite the pandemic - as a result of the successes of economic reform programs, the state’s continued settlement of legal disputes for the business sector, and the speedy issuance of licenses, while simplifying procedures, in addition to the supportive position of the national industry.