Egypt allocates LE 25.6B for investments in Upper Egypt

CAIRO – 8 October 2018: Egypt allocated LE 25.6 billion of 2018/2019 budget to government investments to develop Upper Egypt governorates, Planning Minister Hala el-Saeed said.

Saeed clarified that this amount is 20 percent higher than the allocations of last fiscal year.

The largest proportion of the aloocations went to Southern Upper Egypt which took up to 51 percent or LE 13 billion of the investments, followed by Northern Upper Egypt which took 26 percent, and Central Upper Egypt which took 23 percent of government investments, Saeed clarified.

Southern Upper Egypt includes the governorates of Aswan, Sohag, Qena, Red Sea, and Luxor, while Northern Upper Egypt includes Beni Suef, Menia, and Fayoum, and Central Upper Egypt includes Assiut, and New Valley.

As for the investments targeted at Southern Upper Egypt in 2018/2019, the minister said that Aswan took the largest share of government investments directed to Southern Upper Egypt (32 percent) with a value of LE 4.24 billion and an increase of 71 percent compared to 2017/2018, followed by the governorate of Sohag which took 22 percent with an increase of 4.4 percent, and in the third place comes Qena, getting 18 percent and an increase of 7 percent.

Saeed pointed out that the most important development programs targeted at Southern Upper Egypt during the fiscal year 18/2019 are a number of projects in the fields of sanitation, education, transportation, storage, health and water services.

Saeed pointed out that Menia governorate accounted for the largest percentage of investments allocated to Northern Upper Egypt by 41 percent at LE 2.66 billion, followed by Beni Suef governorate by 35 percent and an increase of 25 percent, and Fayoum came in the third place by 25 percent and an increase of 6 percent.

Saeed noted that the most important development programs targeted at Northern Upper Egypt during the fiscal year 18/2019 are projects of real estate, health services, education and transport.

Regarding Central Upper Egypt, Assiut allocated 66 percent of the investments at LE 3.9 billion with an increase of 48 percent compared to 2017/2018, and New valley accounted for 34 percent and an increase of 4.4 percent.

She added that the most important development programs targeted at the central region of Upper Egypt during the fiscal year 18/2019 are a number of projects in the fields of sanitation, construction and transport.