$8bn New Investments Targeted in Egypt’s Electricity Sector within 18 Months

Egyptian Investment Minister Ashraf Salman revealed that the government is aiming to allure investments worth US$8 billion in electricity sector within the upcoming year and half.

Salman added in a conference on Tuesday that the government is targeting to attain 6% growth rates in GDP and to reduce unemployment rates in addition to declining the public debts of domestic result to 75-80% by the end of the fiscal year 2018/2019.

The government  has adopted economic programme that based on 3 axes including structural reform of the state’s public budget, Legislative reform and development projects, Salman noted.

Furthermore, he asserted that the government is totally dependent on the public sector to pump investments in the country as the targeted investment volume ups to EGP330 billion in the ongoing year including EGP60 billion for government and EGP230 billion for private sector.