ArabFinance: The Egyptian government allocated EGP 119.7 billion worth of investments for the transport sector during fiscal year (FY) 2020/2021, according to an official statement.

The planning minister Hala el Said noted that the segment is expected to grow 4.2% in the current FY, compared to the 3.5% estimates in FY 2019/2020, and the actual growth rates of 4.1% and 3.8% in FY 2018/2019 and FY 2017/2018, respectively.

El Said added that Egypt plans to increase transport production at current prices to EGP 462 billion in FY 2020/2021, compared to EGP 394 billion in FY 2019/2020, at a growth rate of 17%.

In addition, the ministry intends to raise the production at constant prices to EGP 259 billion this FY from EGP 249 billion in FY 2019/2020, targeting a growth rate of 4.1%.

International cooperation minister Rania al Mashat recently revealed credit facilities allocated for transport projects in Egypt.

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