ArabFinance: Egypt saw a 26% Year on Year growth in its government implemented investments in fiscal year (FY) 2019/2020, according to a September 3rd Cabinet statement.

The investments were focused on the sectors of education, health, transport, housing, telecommunications, irrigations, industrial, and local development.

The government targets to raise its investments in various service and development sectors by 50% YoY in this fiscal year, the statement highlighted.

The water and sewage projects are allocated EGP 18 billion in FY 2020/2021, representing 10% of the total planned investments, it added.

Egypt’s state budget for FY 2020/2021 is the largest in the country’s history at EGP 2.2 trillion.

Planning minister Hala el Said announced that this year’s plan includes the implementation of 691 green projects at a total cost of EGP 447.3 billion.

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