Egypt to invest $3.2bln in manufacturing, extractive industries in FY2023/24

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Egypt’s index of manufacturing and extractive industries, excluding crude oil and petroleum products

Staff Writer, Arab Finance

December 10, 2023

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Egypt is targeting to direct around EGP 100.7 billion in investments in the field of manufacturing and extractive industries under the current fiscal year (FY) 2023/2024 plan, which is 19.6% higher than the expected investments for FY 2022/2023, Ministry of Planning and Economic Development revealed on December 9th.

Investments in non-oil manufacturing industries are estimated at EGP 79 billion, while investments that will be directed to petroleum industries total EGP 22 billion.

Egypt’s index of manufacturing and extractive industries, excluding crude oil and petroleum products, recorded 100.86 in September 2023, down 3.86% month-on-month (MoM) from 104.91 in August.

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