Egypt to accomplish roads, bridges worth $500M in FY2021/2022

CAIRO – 17 June 2021: The government allocated in the FY2021/2022 budget LE7.66 billion ($500 million) to the pavement of roads and the construction of bridges.

It is noted that roads are one of five main utilities the government is upgrading and expanding across the country. The other four are electricity networks; environment protection; municipalities; and improvement of traffic, security, and fire stations.

Public investments in local development in FY2021/2022 are estimated at LE22.9 billion with LE18.5 billion (81 percent) being funded by the state treasury. In that fiscal year, the highest allocations are going to Cairo (19.5 percent), Giza (9.7 percent), and Asyut (5.6 percent).

The House of Representatives approved the 2021/2022 budget on Monday with the first chapter of wages and compensation was given an allocation of L.E. 921.9 million.

The second chapter of commodities and services was allocated L.E. 492.7 million. A total of L.E. 57 million was dedicated to the third chapter of non-monetary assets and investments.

The new budget has been largely applauded in the House of Representatives for larger allocations to the healthcare sector, education, social solidarity programs, and investments.

A total of L.E.12.1 billion in FY2021/2022 are allocated to economic activities, including supplying homes with natural gas and the replacement of vehicles to run on gas instead of diesel and gasoline.

In the new fiscal year, the budget allocated for healthcare will be L.E.108.8 billion, compared to L.E.93.5 billion in FY2020/2021.