ICEC

Egypt to invest 26 bln pound in FY2018/19: minister

Egyptian government intends to invest an amount of 25.6 billion pounds in Upper Egypt within the financial year 2018/2019, 20 percent up compared to financial year2017/2018, Egypt’s minister of planning and administrative reform Hala al-Saeed said.

Al-Saeed added that 51 percent of the government’s investments are allocated for Upper Egypt’s governorates with an amount of 13 billion pounds.

Aswan acquired the majority of investments with 32 percent, a total amount of 4.24 billion pounds, followed Sohag and Qena with 22 percent and 18 percent, respectively.

The government eyes several development programs in Upper Egypt represented in medical services, real estate projects, education, and transportation.

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