The Egyptian Cabinet has approved the economic and social development plan for fiscal year (FY) 2023/2024, according to an official statement on March 29th.

This plan targets achieving human development, which is the main driver of economic and social growth, Minister of Planning and Economic Development Hala Elsaid remarked.

The government targets promoting the role of investing in structural reforms by raising the contribution of the agricultural, internal trade, industrial, and telecommunication sectors to gross domestic product (GDP) to 35% in FY 2023/2024, Elsaid noted.

The development plan includes the implementation of 1,051 projects in the education sector to ensure high quality of educational services in public schools and universities and digital transformation in the education system.

As for the healthcare sector, it is witnessing the development of 657 projects to upgrade existing hospitals and medical facilities, whilst ensuring environmental sustainability in the health sector.

Meanwhile, the youth services sector is seeing 339 projects under the FY 2023/2024 plan for the expansion of sports and youth activities across the governorates of Egypt.

Furthermore, the minister highlighted the role of the investment plan in carrying out the National Climate Change Strategy, pointing out that the government aims to increase green investments by 50% in FY 2023/2024.

 

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