Agricultural sector eyes 33.3bn Egyptian pounds investments in FY2017/18

Egypt’s agricultural sector targets total investments of about 33.3 billion pounds within the financial year 2017/2018, the governmental plan showed.

The plan revealed that the private sector investments constitute 80 percent of the total agricultural investments.

The government shares in agricultural investments by 1.2 billion pounds, representing 54 percent of the total public investments, according to the plan.

The agricultural development system project ranked first among the agricultural projects of 2017/2018, with 337 million pounds.

Meanwhile, the public government investments for water resources and irrigation programs and projects reached 5.222 billion pounds in the financial year 2017/2018, including undivided investments that hit 1.244 billion pounds, and 24 percent of the value of the governmental investments in this sector, according to the government plan approved by the Parliament.

Egypt’s agricultural exports increased three percent in 2017 to record $2.2 billion, compared to $2.1 billion in 2016, according to Agricultural Export Council’s report. Source: Egypt today