Egypt to boost private sector investment by 65% in 3 years – PM

The private sector seeks to participate by 65 percent of all investment in Egypt within three years instead of 30 percent, its Prime Minister Moustafa Madbouly said on Sunday.

Madbouly added that the country aims to achieve a primary surplus about 1.5 percent in the current financial year that ends in June 2022, which would rise to 2 percent of gross domestic product (GDP) in next four years.

The government aims to lower total debt to 75 percent of GDP in the upcoming four years from 86 percent currently, and the budget deficit to 5 percent from 6.2 percent, Madbouly stated in a press conference on Sunday.