Cairo – Mubasher: The Egyptian government aims to achieve a 6% growth rate during fiscal year (FY) 2020/2021, according to the Minister of Planning and Economic Development Hala El-Said.
The Minister further revealed that the Cabinet targets raising the gross domestic product (GDP) to reach EGP 6.6 trillion ($411 billion) in FY20/21, compared with EGP 5.9 trillion ($367 billion) in the previous year.
El-Said’s remarks came following her meeting with Prime Minister Moustafa Madbouly to discuss the investment plan for FY20/21.
The investment plan for FY20/21 is focused on healthcare and education, as well as economic growth-stimulating sectors, such as industry and information technology.
Total investments are set to increase to EGP 1.366 trillion, compared with EGP 1.1 trillion during FY19/20.
Moreover, allocations for local development projects have been increased to EGP 15 billion, according to a ministry statement.
