Sisi ratifies Egypt's sustainable development plan for 20/21

CAIRO – 8 July 2020: President Abdel Fatah al-Sisi ratified Law No. 84 of 2020 for the current fiscal year, which marks the third year of the medium-term sustainable development plan (2018/2019 to 2021/2022).

The law stipulated the approval of the general objectives of the framework of the economic and social development plan for the year 2020/2021 by increasing the total resources valued at current market prices to LE 8036.7 billion, and increasing the gross domestic product divided by the current market prices to reach LE 6831.7 billion, at a real growth rate (denoted by constant prices) of 3.5 percent.

The law was published in the Official Gazette.

In June, the Egyptian parliament approved the general report of the plan and budget committee on the draft of the third year plan (2020/2021) of the medium-term sustainable development plan (2018-2019-2021-2022), the state’s general budget project, budgets of the public economic bodies, and the budget of the National Military Production Authority for the fiscal year 2020/2021.

Minister of Planning and Economic Development, Hala Al-Saeed, said earlier that there is general agreement that the 2020/2021 plan is an exceptional plan that differs from others in its directions, goals and priorities, in light of the conditions of exposure to the coronavirus crisis.

She added that the plan aims to preserve the life of the Egyptian citizen, and to provide adequate health care and adequate living conditions, which enables him to return to normal life as soon as possible and with the least possible damage.

Moreover, she stated that Egypt's unemployment rate to dip to 8.5% by end of 2020/2021 in case COVID-19 crisis ended during FY 2019/2020. 

“Egypt targets growth rate of 4.5% in 20/21 but might decline to 3.5% in case the outbreak of COVID-19 continued,” Saeed.

Things to know about Egypt's sustainable development plan for 20/21

CAIRO - 26 March 2020: Egypt's cabinet approved the sustainable development plan for 2020/2021, that was prepared in light of the negative repercussions of the spread of the Corona virus on the global economy, and its expected effects on the Egyptian economy.