Minister of Planning and Economic Development meets with members of AmCham Egypt

Egyptian state spares no effort to improve the efficiency of government spending: Says Hala El-Said

Dr. Hala El-Said, Minister of Planning and Economic Development, affirmed the state's continuous endeavor to raise the efficiency of public spending, pointing to the start of a wide range of public investments aimed at advancing economic growth.

This came during El-Said's meeting with members of the American Chamber of Commerce (AmCham Egypt), to discuss the launching of the 43rd session of the Egyptian Door Knocking Mission to be held on October 4-8 in the American capital (Washington), with the participation of about 7 investors and businessmen, organized by the Chamber in cooperation with the Egyptian-American Business Council in Cairo.

El-Said said that upward growth rates have been achieved in the past five years, as the growth rate reached 5.6% in the first half of the year 19/2020 before the outbreak of the Corona epidemic, and despite the crisis, the Egyptian economy achieved a growth rate of 3.6% during 19/2020.

During the meeting, Dr. Hala El-Said reviewed the role of the Ministry of Planning in formulating the investment plan, noting the increase in public investments in the 21/2022 plan, especially for sectors that stimulate economic growth and provide decent jobs opportunities.

El-Said pointed to the ministry's role in developing and adopting an integrated system for preparing and monitoring the investment plan (ISIPPM), in addition to establishing a permanent joint committee that includes representatives from the ministries of planning and finance to develop and simplify internal investment procedures and identify potential joint projects.

She pointed to the doubling of public spending during the last five years and the implementation of some initiatives: including the initiative for a decent life, doubling the intensive care beds and ambulance points, reducing the number of students in classrooms, introducing technical education to excel in the labor market through the establishment of many schools and technological universities, and expanding In the establishment of industrial complexes and others.

On strengthening partnerships with the private sector, the Minister of Planning noted the role of the Sovereign Fund of Egypt, which acts as one of the most reliable mechanisms to create partnership opportunities between the public and private sectors more effectively, explaining that the fund aims to maximize the return on untapped assets in Egypt, as well as achieving Sustainable financial surpluses, by designing investment products that stimulate partnership with the private sector.