Public investment allocations for Upper Egypt's Sohag, Qena hike by 38%, 62% in FY2020/21

CAIRO – 29 December 2020: Public investments allocated to Upper Egypt's governorates of Sohag and Qena have hiked in the fiscal year 2020/21 plan, Minister of Planning and Economic Development Hala El-Said revealed on Tuesday. 

As part of the local development program in Upper Egypt to increase public investment in the poorest governorates, public investments in Sohag Governorate increased by 38% to reach to LE 6.3bn in FY 2020/21. While in Qena it increased by 62% to LE6.6bn compared to the beginning of the program in the FY 2016/17 fiscal year.

El-Said remarks came on the sidelines of the meeting of the Higher Committee for the Management of the Local Development Program in Upper Egypt, with the participation of Mahmoud Shaarawy, Minister of Local Development, and Mohamed Maait, Minister of Finance.

She indicated that the latest data on income and spending in Egypt affirms the success of poverty reduction policies.

The average per capita allocation from public investments in Sohag rose to LE1,200 in FY2020/21 up from LE500 in FY2015/16.

In Qena's case, it hiked to LE 1,900 up from LE I,500 in the same reference period.

El-Said added that poverty levels in urban and rural Upper Egypt declined by 1.06% and 3.79% respectively, in FY 2019/20, compared to the levels recorded in FY2017/18.

"1,749 projects were completed since the start of Upper Egypt Development Program over the past four years at a total cost of LE2.4 billion. 532 of these projects took place in Qena with LE 1.3 billion of investments, and 1,217 projects were in Sohag governorate, with a total investment of LE1.1 billion," the minister explained.

Meanwhile, Major general Mahmoud Sharawi, minister of Local Development, pointed out that the results achieved by the local development program in the governorates of Sohag and Qena contributed to achieving a qualitative leap, especially in the performance of local administration employees, given the systems and mechanisms of work, planning, institutional and participatory frameworks, and training and capacity building programs, in addition to developing the areas of work of local development programs In the two governorates.

Shaarawy explained that the number of projects included in the program amounted to about 3,707 projects in the two governorates. 2,444 projects have been completed and 1,263 projects are being implemented.

“The implementation of projects to accompany and develop the four industrial zones in the two governorates has also started with investments amounting to LE3.6 billion in FY 2020/2021” he added.