Egypt’s gov’t investments to hike to LE280.7B in 2020/21: Min.

CAIRO – 1 April 2020: "Egypt aims to increase its government investments by 33 percent during the next fiscal year 2020/2021 to LE 280.7 billion, up from LE 211 billion in 2019/2020," Minister of Planning and Economic Development Hala el-Saeed said Wednesday.

“Investments funded by the treasury are scheduled to increase to LE 230 billion, up from LE 140 billion, with an increase of 64 percent, which helps to stimulate economic activity, while strengthening incentive measures to confront the emerging coronavirus that the Egyptian state and the world currently face,” Saeed added.

Meanwhile, Saeed announced that Egypt targets to increase investments in health sector during fiscal year 2020/2021 by 69 percent, reaching LE 15.3 billion.

The minister clarified that the state’s plan for the next fiscal year and initiatives to develop the health sector includes comprehensive health coverage initiatives, including the comprehensive health insurance initiative and the geographical targeting of priority governorates. The plan also includes the development of 79 hospitals and 294 primary care units in nine governorates.

Saeed added that the investment plan of the health sector for the fiscal year 2020/2021 includes expanding the raising the efficiency of medical ambulance services by adding 300 ambulances and 129 new ambulance points, and achieving comprehensive coverage of ambulance points, especially in the governorates of Gharbia, Menoufia, Beheira, and the New Valley.

“The plan also targets adding intensive care beds with an increase of 77 percent, nurseries with an increase of 8 percent, and childcare beds in government hospitals with an increase of about 87 percent,” she said.

The planning minister pointed out that the plan for the coming fiscal year 20/2021 aims mainly to improve the standard of living of the Egyptian citizen in various important sectors, such as health, education, transportation, etc., within the framework of the goals of Egypt's Vision 2030, and based on what the state adopted from the program of comprehensive economic and social reform.

Saeed further noted that the investment plan comes in the light of the measures taken by the Egyptian state to confront the crisis of the emerging coronavirus, in a way that primarily serves the Egyptian citizen.

Earlier, Minister of Finance Mohamed Ma’it announced that health allocations rise LE 23.4 billion to LE 95.7 billion in 20/21 draft budget, adding that education allocated LE 46.7 billion and LE 7.8 billion went for scientific research.

Egypt's 20/21 budget biggest in history with LE1.71T expenses: Finance Min

CAIRO - 30 March 2020: Egypt's draft budget of 2020/2021 fiscal year is the biggest in the country's history with expenses of 1.71 trillion and revenues of LE 1.3 trillion, according to Minister of Finance Mohamed Ma'it.