MEMPHIS REISEN

Egypt targets 4.2% growth, prioritizes green investments in FY 2024/25 development plan – Dailynewsegypt

The Egyptian Cabinet has approved an economic and social development plan for the fiscal year (FY) 2024/25, aiming for a 4.2% growth rate and a significant boost in private and green investments.

The plan, unveiled by Minister of Planning and Economic Development Hala El-Said and approved by Prime Minister Mostafa Madbouly, prioritizes improving living standards through investments in education, healthcare, and social protection.

It also emphasizes environmental sustainability, with a target of allocating 50% of public investments to green projects.

According to El-Said, the plan seeks to raise the share of private investments in total investments to 50%, fostering a more dynamic business environment. Human development remains a central focus, with 42.4% of government investments directed towards education and healthcare initiatives.

Moreover, The healthcare sector will see the completion of 58 new hospitals and the development and equipping of another 55. In education, 3,500 existing schools will be upgraded, and 18 new technology-focused schools will be established. The plan also aims to achieve significant reductions in illiteracy rates.

The government pledges to allocate 50% of public investments to green projects, prioritizing environmental sustainability. This includes increasing the use of renewable energy, expanding protected areas, and promoting energy efficiency. Decent housing is another key target, with the plan aiming to provide for 337,200 families.

Furthermore, the completion of the national road network is a key infrastructure target. Additionally, a digital database will be established for the National Council for People with Disabilities.

El-Said indicated that the plan aligns with Egypt’s Vision 2030, a national strategy to transform the country into a prosperous, inclusive, and sustainable nation.

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