Egypt to direct LE 47 billion to Upper Egypt during 2020/21

CAIRO – 21 April 2020: Government investments in Upper Egypt governorates reached LE 47 billion during the next fiscal year 2020/2021; which represents 25 percent of the total government investments, according to Minister of Planning Hala el-Saeed.

She clarified that the directed amount increased 50 percent compared to 2019/2020 plan.

“The government investment plan includes about LE 2.9 billion directed to development programs in Qena and Sohag governorates, raising the amount directed to this program to about LE 7.9 billion in 4 years starting from 2017/2018,” she clarified

She said that the plan also includes directing LE 19.2 billion to the border governorates (North and South Sinai, Matruh, and New Valley) with a growth rate of more than 60 percent.

The sustainable development plan for Egypt estimated that the total investments amounted to LE 740 billion during the next fiscal year, compared to LE 840 billion pounds expected in the current year, and LE 970 billion investments in 2019-2018.