Total public investments in Egypt hit LE 1.5T during 4 years

CAIRO – 20 March 2019: Egypt pumped total public investments worth LE 1.5 trillion during the last four years, according to Minister of Planning Hala el-Saeed.

Saeed clarified that LE 175 billion of these investments flowed in the first half of fiscal year 2018/2019, with an increase of 12 percent compared to the same period of the previous year.

During her speech at the Suez Canal Economic Zone (SEZ) regional conference held Tuesday on enhancing the quality of investment in infrastructure, the minister said that investment in infrastructure and improving its quality is one of the most important structural reforms that contribute to increasing output, enhancing the idea of containing income and increasing economic opportunities.

"Evidence from international experience suggests that investment in infrastructure generates short and long-term benefits. Increasing public investment by 1 percent of GDP leads to a 1.5 percent rise in output over the medium term,” she said.

Saeed noted that, therefore, many countries can benefit from an enabling financing environment to improve the quality of their current infrastructure balance and implement new projects. “The priorities vary in this area but often include the development of land and sea transport as well as the improvement of infrastructure technology (railways, ports, and communications).

On the rate of growth of Suez Canal activity, the minister said that it rose by about 10 percent during the period of 17/2018 compared to the same period last year, adding that the Suez Canal revenues increased 17 percent in the same period, compared to 16/2017.

During the first half of the current fiscal year 18/2019, 1,133 projects were implemented with an investment cost of LE311 billion in 20 sectors, which contributed to increasing sectoral growth rates and improving indicators of sustainable development in all fields, she said.