Egypt's gov't investments rose to LE 102B within 6 months

CAIRO – 14 January 2021: Government Investments rose 59 percent during the first half of 2020/2021, on an annual basis, according to the Minister of Finance Mohamed Maait.

Maait added in a statement Thursday that the total investments of budget agencies hiked to LE 102 billion during the period from July to the end of last December, compared to LE 64 billion in the same period of previous fiscal year.

He said that an additional investment financing amounting to LE 28 billion has been provided to some government agencies such as the Ministry of Communications, the Ministry of Electricity and the Ministry of Transport, in light of the state’s tendency towards improving infrastructure and services for citizens in all governorates, especially in the governorates with lower income, and pushing economic activity and providing additional liquidity for contractors to deal. With the negative repercussions of the coronavirus pandemic.

The minister emphasized that the state’s general budget approved additional disbursement requests for many bodies that were not included in the original budget allocations, at a value of nearly LE 14.5 billion, to help these authorities deal with the repercussions of the Corona pandemic.