Egypt raises targeted investments for transport sector by 27.5% in 2022/2023

CAIRO - 2 August 2022: The Egyptian government aims to increase investments directed to the transport sector in the plan for the current fiscal year 2022/2023 by 27.5 percent to record LE 307 billion, according to a statement issued today by the Ministry of Planning and Economic Development.

 

“The sector’s development vision goes beyond just developing mechanisms for transporting passengers and goods to participating in consolidating the concept of sustainable development,” Minister of Planning and Economic Development, Hala El-Said, said.

 

According to the ministry's statement, the government aims for the transportation sector's production at current prices to reach LE 672.4 billion the current fiscal year, compared to LE 586.5 billion in the base year 2022/2021, marking an increase of 14.7 percent.

 

Meanwhile, the real production of the sector aims to increase by 4.8 percent, as it is estimated to rise to reach LE 614.6 billion.

 

With regard to the sector’s output, it is targeted to rise from LE 380.6 billion in the 2021/2022 fiscal year to LE 442.4 billion in the current fiscal year, at current prices, achieving a growth rate of 16.2 percent.

 

Over the past years, the sector has contributed to developing the transport system and improving the quality of its services, as the total lengths of the main road network increased by 112 percent between 2013 and 2020.

 

The number of overhead bridges also increased from 2,370 bridges in 2013 to 4159 bridges in 2020, with a growth rate of 75 percent, in addition to an increase in the number of fixed bridges from 208 in 2013 to 1,848 bridges in 2020, with a growth rate of 790 percent.

 

The number of axes on the Nile has been developed to rise from 38 axes in 2013/2014, to 49 axes in 2021/2020, with a growth rate of 29 percent.

 

As a result, congestion of licensed vehicles per kilometer decreased from 302 vehicles in 2019, to 219 vehicles, with a 27 percent decrease.

 

Road accidents decreased by 10 percent from 2.2 accidents per thousand vehicles in 2013 to 0.8 accidents per thousand vehicles in 2021.

 

In July, the Planning Ministry issued a report where it revealed that more than LE 5.4 billion  were spent on developing roads during fiscal year 2021/2022 as part of the Haya Karima presidential initiative.

 

 

 

 

 

According to the report, a total of 9,000 km of internal and main roads are being paved, and 634 car and pedestrian bridges are established and developed, in addition to the development of 116 railway stations to serve the people of 1,477 villages within the first phase of the initiative.

 

 

It pointed out that public investment directed to the transport sector exceeded LE 665 billion  during the past eight years (14/2015-21/2022), with a rate of more than 454 percent, compared to the previous eight years (2007/06- 13/2014), where the annual investments directed to the sector increased from LE 16.2 billion in 2014/13 to LE 222.5 billion  in 21/2022, with a growth rate of 1,273 percent.

 

 

The report indicated that the total investments of the transport sector in the general plan (22/2023) are estimated at about LE 307 billion, and about 72 percent of the total belongs to the economic authorities.