Egypt implements strict measures to control public investment

Egypt’s Minister of Planning is implementing strict governance measures to manage public investment spending and boost private sector participation. The government has set a one trillion Egyptian pound cap on public investments for the current fiscal year, said Minister of Planning Rania Al-Mashat on Thursday.

To achieve this, the ministry is reviewing and prioritising projects, focusing on those with high completion rates. Additionally, it is working closely with ministries and governorates to identify potential reductions in public spending.

Despite these measures, the total investment for the current fiscal year is projected to reach 1.987 trillion pounds, with private investment contributing almost 50 per cent or (987 billion pounds) of the total. This indicates a strong private sector involvement in the economy.

Subediting: Y.Yasser