Arab Finance: Total targeted investments of the Egyptian transport sector are estimated at around EGP 307 billion in the general plan for fiscal year (FY) 2022/2023, versus EGP 240.7 billion for the previous FY, according to a report published by the Ministry of Planning and Economic Development on August 2nd.

The production of the transport sector at current prices is targeted to reach EGP 672.4 billion in FY 2022/2023, higher by 14.7% from EGP 586.5 billion in the basis year 2021/2022, data showed.

The real production of the sector is estimated at EGP 614.6 billion, with a growth rate of 4.8%, the report added.

Meanwhile, the output of the transport sector is forecast to record a growth rate of 16.2% in FY 2022/2023, targeting to reach EGP 442.4 billion at current prices, compared to EGP 380.6 billion in FY 2021/2022, the report highlighted.

For her part, Minister of Planning and Economic Development Hala El-Said stated that the transport sector plays a key role in the economic and social development of Egypt as it represents a main pillar for sustainable development.

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