The Ministry of Planning and Economic Development issues a report on the objectives and directions of the agriculture and irrigation sector

The Ministry of Planning and Economic Development issued a report on the objectives and directions of the agricultural and irrigation sector within the medium-term plan, whose second year is 23/2024.

H.E. Dr. Hala El-Said, Minister of Planning and Economic Development, asserted that the agricultural sector is one of the main priority sectors within the framework of the National Program for Economic and Social Reform in its second phase, which focuses on the “Real Economy” and making structural reforms in the state’s productive structure.

El-Said added that agriculture is the main source of employment, as it alone absorbs about 20% of the total number of people engaged in economic activities. 

It [Agriculture] also contributes about 12% of the gross domestic product, in addition to its contributions to the country’s export activity, with a participation rate of no more than less than 15% of total non-oil merchandise exports.

The Ministry of Planning and Economic Development report explained the most prominent objectives of the medium-term plan and its second year 2024/23 about agricultural development.

  The plan includes targeting the allocation of investments amounting to about EGP 534 billion to the agriculture and irrigation sector over the years of the medium-term plan, including about EGP 116.6 billion for the year 2023/2024 plan, equivalent to 7% of the total investments, and a growth rate of 71% over the previous year 2023/22.

The Ministry of Planning report attributed the growth in agricultural sector investments in the year 2023/2024 to the state’s expansion of land reclamation programs to include new areas, including the New Delta and Mostaqbal Misr [Future of Egypt], in addition to completing the stages of previous horizontal expansion projects, which include the Toshka Project and the North and Central Sinai Development Project.

The report added that the investment boom in the sector is due to the growth of projects directed at raising production efficiency in the agricultural sector and other complementary sectors concerned with the development of livestock, poultry, and fisheries.

Regarding agricultural sector investments in the year 2023/2024, the report indicated that the private sector monopolizes about 44% of total agricultural investments.

  The medium-term plan also aims to increase agricultural production at current prices to reach EGP 2.43 trillion by the end, compared to EGP 1.82 trillion during the year 2023/2024, with a growth rate of 20% over the previous year, equivalent to 10.4% of gross domestic production, at constant prices.

The plan also aims to increase agricultural production to about EGP 1.34 trillion in 2023/2024, with a growth rate of 4.1% over the expected production for 22/2023.

The report also indicated that it is also targeted to increase the agricultural domestic product to about EGP 1.7 trillion at current prices by the end of the plan, and to about EGP  1 trillion at constant prices during the same period.

  The current agricultural output is estimated at EGP 1,267 billion, compared to about EGP 1,052 billion expected in the year 22/2023 for the second year of the plan (23/2024).

  The growth rate of agricultural output reaches 20.4%, amounting to about EGP 931 billion at constant prices, a growth rate of 4.1% over what is expected in the year 2022/2023.

Agricultural output represents about 11.3% of the GDP in 2023/2024.