Egypt has began to offer new city land plots to Egyptians abroad in a program expected to pump $2.5 billion into the government’s treasury pot and alleviate pressure on trade deficit, as Prime Minister Kamal Al Ganzouri declared.
The initiative, dubbed the “Homeland Home” plan, offers 7,685 plots of land of varying sizes in five new cities.
The price of the land will be paid in U.S. dollars and the plots will be reserved online through internet, without naming the website, as Al Ahram stated.
Ganzouri said the land offer is a first stage in narrowing the budget deficit, according to the report. The government is attempting to diversify its funding sources to alleviate pressure on its growing deficit.