The Survivors of Nothingness — Part Two    EGAS, Eni, TotalEnergies sign Cronos field handling agreement    Oil prices drop on Tuesday    Asian stocks climb on Tuesday    SCZONE attracts $65m in new Chinese textile investments in Sokhna Industrial Zone    Egypt, Boeing discuss expanding aviation partnership, investment cooperation    Egypt, Eroğlu Group discuss textile investment, partnership opportunities    Egypt discusses troop deployment to Somalia with foreign minister    Israel accused of 80 ceasefire violations in Gaza since October 10    Egypt's PM reviews efforts to remove Nile River encroachments    Health Minister reviews readiness of Minya for rollout of universal health insurance    Egypt strengthens ties with NEPAD at Aswan Forum    Sisi invites Egyptians to join Gaza reconstruction drive, citing shared humanity    Egypt screens 13.3m under presidential cancer detection initiative since mid-2023    Egypt launches official website for Grand Egyptian Museum ahead of November opening    The Survivors of Nothingness — Episode (I)    EHA, Arab Hospitals Federation discuss cooperation on AI, sustainable healthcare    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt, WHO sign cooperation strategy to strengthen health system through 2028    Egypt's FM joins Sahel region roundtable at Aswan Forum    Egypt successfully hosts Egyptian Amateur Open golf championship with 19-nation turnout    Africa can lead global recovery, Egypt's Sisi tells Aswan Forum    Egypt: Guardian of Heritage, Waiting for the World's Conscience    Egypt, Qatar sign MoU to boost cooperation in healthcare, food safety    Egypt will never relinquish historical Nile water rights, PM says    Al Ismaelia launches award-winning 'TamaraHaus' in Downtown Cairo revival    Al-Sisi, Burhan discuss efforts to end Sudan war, address Nile Dam dispute in Cairo talks    Egypt's Sisi warns against unilateral Nile actions, calls for global water cooperation    Egypt unearths New Kingdom military fortress on Horus's Way in Sinai    Egyptian Open Amateur Golf Championship 2025 to see record participation    Syria releases preliminary results of first post-Assad parliament vote    Karnak's hidden origins: Study reveals Egypt's great temple rose from ancient Nile island    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Egypt aims to reclaim global golf standing with new major tournaments: Omar Hisham    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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.