Ukraine, Egypt explore preferential trade deal: Zelenskyy    Egypt, Russia's Rosatom review grid readiness for El-Dabaa nuclear plant    Mastercard Unveils AI-Powered Card Fraud Prevention Service in EEMEA Region, Starting from Egypt    Global tour for Korean 'K-Comics' launches in Cairo with 'Hellbound' exhibition    China's factory output expands in June '25    Egyptian pound climbs against dollar at Wednesday's close    New accords on trade, security strengthen Egypt-Oman Relations    Egypt launches public-private partnership to curb c-sections, improve maternal, child health    Gaza under Israeli siege as death toll mounts, famine looms    EMRA, Elsewedy sign partnership to explore, develop phosphate reserves in Sebaiya    Philip Morris Misr announces new price list effective 1 July    Egypt Post discusses enhanced cooperation with Ivorian counterpart    Egypt's Environment Minister calls for stronger action on desertification, climate resilience in Africa    Egypt in diplomatic push for Gaza truce, Iran-Israel de-escalation    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger    Egypt, Tunisia discuss boosting healthcare cooperation        Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Grand Egyptian Museum opening delayed to Q4    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's FY2021 draft budget eyes increasing public investments – minister
Published in Amwal Al Ghad on 02 - 04 - 2020

Egypt's Minister of Planning Hala El-Saeed said on Wednesday the financial year 2020/2021 draft budget targets increasing public investments to 280.7 billion Egyptian pounds ($17.8 billion) , up from 211 billion pounds during the financial year 2019/2020, an increase of 33 percent, according to Ahram Online.
The budget also aims to increase the public treasury's financed investment to 230 billion pounds, up from 140 billion pounds, a rise of 64 percent, to stimulate both Egypt's economic activity and its efforts to contain COVID-19 outbreak.
Announcing the financial year 2020/2021 draft budget's investment targets, El-Saeed revealed that it aims to increase investments in healthcare sector by 69 percent, rising to 15.3 billion pounds, to cover inclusive healthcare coverage initiatives, including the inclusive health insurance system and the improvement of healthcare services.
For the education sector, El-Saeed clarified that the financial year 2020/2021 draft budget targets increasing higher education investments by 104 percent to reach 17.8 billion pounds, while it targets increasing pre-university education investments by 35 percent to reach 16.5 billion pounds.
For the transport sector, El-Saeed explained that the financial year 2020/2021 draft budget targets 36 billion pounds in government investment in the sector with a growth rate of 84 percent for a number of projects, especially roads and bridges under the national road network and the completion of the third and fourth phases of the Cairo metro.
She also added that it targets increasing investments in the housing sector by 75 percent to reach 40 billion pounds.
For and the telecommunication and information technology sector, financial year 2020/2021 focuses on increasing the sector investment for the first time by 300 percent, to reach 10 billion pounds to improve financial year the sector's infrastructure and to pursue governmental services mechanization.
Financial year 2020/2021 draft budget also targets further investments in the water resources and irrigation sector by 11 percent, reaching 8.1 billion pounds, to cover a number of initiatives to ensure water security.
El-Saeed illustrated that the Hayah Kareema initiative will also be covered in the financial year 2020/2021 draft budget through expanding the social protection umbrella to focus on meeting citizens' needs in the most vulnerable villages, and providing job opportunities.
El-Saeed said the financial year 2020/2021 mainly targets improving living standards, especially in education, healthcare and transport in light of Egypt's strategic vision 2030.


Clic here to read the story from its source.