Ministry of Planning
She noted that the capital increase would enhance the IFC’s ability to expand its support to private companies.
She shared these details during a roundtable focused on population and human capital development in Egypt.
El Said, speaking at the Joint annual meeting of the Arab financial institutions in Cairo, mentioned that the government is presently engaged in evaluating offers and intends to make a selection soon
Egypt is currently targeting a growth rate of between 4 and 4.2 percent for FY2024/2025, she added and expects a slowdown to 2.9 percent for the current fiscal year with growth impacted by geopolitical tensions
This decision follows a suggestion from the World Bank and supports the government's plan outlined in its state ownership policy document
In addition, the country aims to achieve a total of LE 2 trillion in private-sector investments for FY2023/2024.
Public investments for the upcoming fiscal year are capped at LE 1 trillion to bolster private sector involvement, aiming to raise private investment to 50 percent of total investments, up from 40 percent this year
This revised target is significantly lower when compared to the program's previous achievements, which amassed around $5.6 billion between April 2022 and the conclusion of last year
Her participation in these meetings aims to address global challenges by exploring various financing solutions, fostering private-sector investments, and enhancing resilience against future disruptions.
This decision reflects Egypt’s commitment to safeguarding the interests of workers, particularly in light of recent internal and external economic developments, El-Said added.
Minister of Planning, Hala El-Said, met with ministry officials on Tuesday to evaluate the FY2023/2024 plan and achievements, project completion rates, and other key indicators under MPED’s purview
The minister spoke to media on the sidelines of yesterday’s Egypt – OECD Country Program conference, disclosing new details on the progress of the sales of Wataniya Petroleum, Jabal El-Zeit, and Safi
The minister added that the winning bid will be announced within a month to six weeks, and revealed that there are three main companies competing to acquire a share of the national petroleum products company
The ministry's report outlines foundational principles guiding development directions, priorities, and policies in line with Egypt's Vision 2030 and its overarching goals and development strategy
The protocols were signed during the third annual forum of startup companies launched by the Ministry of Planning in cooperation with the Greek Campus. The protocols were signed during the third annual forum of startup companies launched by the Ministry of Planning in cooperation with the Greek Campus.
This honor came as the media team represents the host country for the annual meetings of the Bank Group, which was held in Sharm El-Sheikh from 1-4 June under the auspices of President Abdel Fattah El-Sisi.
The tourism sector occupies a special importance for the Egyptian economy for several reasons, namely that it is a dynamic sector characterized by high growth rates and its large sectoral contribution to GDP growth.
Minister of Planning and Economic Development Hala El-Said, stressed that electric energy is the mainstay for comprehensive development, as all industrial, agricultural, tourism, urban, and service sectors depend on it to operate their facilities and generate added value.
These investments include LE 16.6 billion in oil refining industries and LE 109.1 billion in non-petroleum transformative industries.
The PMI report indicated that the index scored 49.1 points during July 2021, in addition to the Egyptian labor market moving to the scope of expansion in July 2021 for the first time since October 2019, according to a statement issued, Wednesday.
Most Read
