CAIRO - 12 August 2021: Egypt seeks to achieve a 5.4 percent growth rate in 2021/2022 fiscal year and increase investments to 17.6%, said Minister of Planning and Economic Development Hala El Saeed on Thursday.
The country seeks to contain the rate of inflation to settle at 6 percent, unemployment at 7.3 percent and poverty at 28.5 percent, she said.
This comes within the report prepared by the planning ministry on Egypt’s economic targets for the current FY 2021/22, which is the fourth year of the government’s medium-term plan for sustainable development (FY2018/19 – FY2021/22).
All these targets are applicable as Egyptians have a strong will to achieve hoped-for changes and continue the national comprehensive development march under their wise leadership, she said.
Among the economic targets, Saeed said “we seek to increase individual share of Gross Domestic Product to reach 3.4 percent in FY 2021/22 and double saving rate to 11.2 percent against 5.5 percent in FY 2020/2021.
The economic targets include pushing up direct foreign investments to $7 billion, developing non-petroleum exports by 10 percent to reach $19.5 billion against $17.9 billion in 2019/2020 and increasing Egyptian expatriates' money transfers to $30 billion against $25.2 billion in 2018/2019.