Minister of Planning and Economic Development, Rania Al-Mashat, outlined the allocation of public investments in the economic and social development plan for FY 2024/2025.
The plan dedicates 42 percent to human and social development projects, 37 percent to industrial development and infrastructure, and 21 percent to local development projects.
Al-Mashat emphasized the substantial growth in investments for human and social development over the past decade, which surged from LE 29.3 billion in 2015/2016 to LE 161.9 billion in 2024/2025.
Additionally, investments directed to the governorates increased by 315 percent over the same period, rising from LE 6.8 billion in 2014/2015 to LE 28 billion in 2024/2025.
To streamline investments and reprioritize the FY 2024/2025 plan, the ministry worked closely with relevant authorities to develop steps for regulating investment spending, following the Prime Minister’s directives to prioritize projects with over 70 percent completion or nearing completion.
In October, the Ministry announced that Egypt’s GDP grew by 2.4 percent in Q4 of FY 2023/2024, bringing the annual growth rate to 2.4 percent, down from 3.8 percent in FY 2022/2023.
The Purchasing Managers' Index (PMI) reached 50.4 points in August 2024, surpassing the neutral threshold for the first time since November 2020, mainly due to an increase in manufacturing activities.
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