Egypt lowers its economic growth forecast to 5.5% for 22/23 fiscal year

CAIRO - 22 March 2022: Egypt’s estimations of the gross domestic product (GDP) decreased to 15.2 percent during Fiscal year 2022/2023, compared to 16.2 percent pre-crisis estimates, according to the Minister of Planning Hala El-Said.

 

El-Said added that public investments constitute 78 percent of the total investments in the 2022-2023 plan.

 

This came during El-Said’ review of the main features and objectives of the economic and social development plan for the fiscal year 2022-2023, during the cabinet meeting, headed by Mostafa Madbouli.

 

The minister clarified the plan's expectations for the inflation rate during the next fiscal year, after the escalation of the crisis, with an emphasis on making great efforts to contain any inflationary trends.

 

The minister explained that with regard to the health sector, the economic and social development plan for the next fiscal year includes the establishment and development of 36 hospitals, the provision of 1,500 beds, and 1,000 ambulances (within the presidential initiative, a decent life), as well as the comprehensive development of 52 hospitals completely.

 

The plan also includes the establishment of 94 hospitals and 448 health units within the comprehensive health insurance system, 148 specialized hospitals and medical centers, and the development and equipment of health facilities in urban complexes in the governorates of the "Hayah Karima" initiative, with 15 hospitals and 104 health units, The minister explained that with regard to the health sector, the economic and social development plan for the next fiscal year includes the establishment and development of 36 hospitals, the provision of 1,500 beds, and 1,000 ambulances (within the presidential initiative, a decent life), as well as the comprehensive development of 52 hospitals completely.

 

The plan also includes the establishment of 94 hospitals and 448 health units within the comprehensive health insurance system, 148 hospitals and specialized medical centers, and the development and equipment of health facilities in urban complexes in the governorates of the "Hayah Karima" initiative, with 15 hospitals and 104 health units, in addition to a comprehensive development of 52 hospitals and health centers for family development, and the completion of the establishment and development of 29 hospitals, with an average completion rate of 90%, in addition to 7 university hospitals.