Minister of Planning & Economic Development reviews the main objectives of Egypt’s economic development sector in the FY 21/2022 plan

Dr. Hala El-Said, Minister of Planning and Economic Development, reviewed the document of the fourth and final year plan (21/2022) of the medium-term plan for sustainable development (18/2019 - 21/2022), and the main objectives of the plan in the field of economic development.

El-Said described the FY 21/2022 plan as” ambitious”, noting that the plan targets an economic growth rate of 5.4%, in light of the uncertainty regarding the developments of the pandemic, in addition to targeting to raise the investment rate to 17.6%, contain the inflation rate to stabilize at 6%, adjust the unemployment rate to become within the limits 7.3%, and the poverty rate continued to decline to 28.5%.


El-Said explained that these goals are achievable in light of the presence of a strong will to bring about the desired change, and to continue the process of construction and comprehensive and sustainable development under a wise leadership that has full confidence in the ability of the Egyptian people.


On the main objectives of the plan, Dr. Hala El-Said said that the plan for the year 2021/2022 adopts the objectives contained in The National Program for Economic and Social Reforms (NPESR), as well as the development objectives emanating from Egypt’s Vision 2030.


El-Said referred to the main objectives of the plan for the year 21/2022 in the field of economic development, which included achieving a high growth rate of GDP of 5.4% compared to the expected growth rate of 2.8% in 20/2021, in addition to an increase in the per capita GDP. The real total increased by 3.4% in the year 21/2022, and the saving rate doubled to about 11.2% in the year 21/2022 compared to only 5.5% in the year 20/2021.
El-Said continued talking about the main objectives of the plan for the year 21/2022 in the field of economic development, which included an increase in the investment rate to 17.6% in the year of the plan compared to 13% in the year 20/2021, and an increase in net foreign direct investment to $7 billion in the year of the plan compared to expected investments in the range of $5.4 billion in 20/2021, in addition to the development of non-oil merchandise exports at a rate of 10% to reach about $19.5 billion, compared to $17.9 billion in 19/2020.





The objectives of the plan for the current fiscal year also included an increase in remittances from Egyptians working abroad to about $ 30 billion in the year of the plan, compared to $ 25.2 billion in 18/2019, an increase in tourism revenues to $ 6 billion in the year of the plan, compared to about $ 2.4 billion.
Moreover, the Suez Canal’s revenues increased to $ 6 billion compared to the annual average achieved in the previous three years, which amounted to $ 5.7 billion, in addition to the gradual rise of international reserves of foreign exchange to reach $ 42 billion at the end of the year of the plan.