CAIRO - 4 June 2023: Hala El Said, Minister of Planning and Economic Development, presented the economic, social development plan for the Fiscal Year 2023/2024 (FY23/24) to the parliament today. El Said stated that the plan is focusing on the telecommunications and information technology sector considering its importance and contribution to Egypt’s economy. The Minister stated that LE 83.4 billion were allocated as investments for this sector in the FY24/23, with a growth rate of 49 percent over the expected investments for the previous FY23/22, which amounted to about LE 56 billion. The private sector plays a major role in accelerating the growth of this sector, as it receives about LE 52.4 billion or 63 percent of the total investments directed to the development of the sector. The Minister previously stated that the plan for FY23/24 will allocate directs investments amounting to about LE 100.7 billion for the manufacturing sector - both petroleum and non-petroleum.
