Egypt’s Govt. Allocates EGP 20 Bln To Combat Corruption In FY 2012/13

The Egyptian Prime Minister Hesham Kandil revealed that the Egyptian government has succeeded in solving problems and removing obstacles which faced 46 companies, in addition to providing about 100,000 job opportunities in the last period.

The government targets to establish a number of new investment projects in south Egypt and Suez Canal through depending largely on the private sector which has a great role in boosting and developing national economy with the aim of achieving social justice and fulfilling the target growth rates.

Kandil noted that the government adopts a short-term plan to 2014 which aims at achieving more economic reforms to finance the current budget deficit which amounted to EGP 168 billion.

The value of investments allocated to combat corruption reached EGP 20 billion in FY 2012/2013 which will be used to make the subsidies reach the poor with essential focus on some sectors which helps in solving the current crisis.

The Egyptian Prime Minister expected investment rates in Africa to increase in the upcoming period amid the current natural resources, energy sources and capitals.