Planning min.: GDP estimates for FY 2022/23 expected to record LE 9.2T

CAIRO - 17 May 2022: Minister of Planning and Economic Development Hala el-Said has said that growth rate is targeted to record 5.5 percent and inflation rate is sought to reach 10 percent in the 2022/2023 fiscal year’s plan.

 

The minister added that the GDP estimates for FY 2022/2023 are expected to register LE 9.2 trillion, up 16 percent as compared with FY 2021/2022 rates.

 

Said was reviewing the main features of 2022/2023 FY’s plan during a meeting held by the House of Representatives' Planning and Budget Committee, under its head MP Fakhry el Feki.

 

Pointing out to the Egyptian economy targets amid the successive international crises, the minister said that the unemployment rate is sought to register 7.5-8 percent while investment in GDP rate is targeted to record 15.2 percent in the new plan.

 

Public investments in the FY 2022/2023 plan have increased to 78 percent of the total investments, to register LE 1.1 trillion while the private sector’s investments recorded LE 300 billion, she said.

 

The minister added that the government investments represent a third of the public investments in the FY 2022/2023 plan.