New PPP To Be Announced Next January: Momtaz El-Saeed

The Egyptian government will announce the establishment of Public–Private Partnerships (PPP) by next January, said the Minister of Finance Momtaz El-Saeed who affirmed that these projects shall be organized by government and managed by investors.

Egypt’s budget for FY 2012/2013 shows that the value of expenditures stood at EGP 533 billion, while the value of the resources is only EGP 60 billion. Therefore, Egypt shall attract new investments in order to plug the budget deficit.

The budget also shows that the value of investments is EGP 276 billion; of which EGP 56 billion are of government investments and EGP 60 billion are of public-sector investments. El-Saeed called on the Arab and international communities as well as the private sector to inject investments of about EGP 160 billion to Egypt.

Investments of about US$ 16 million exited the Egyptian market after the turmoil that followed last year’s revolution, he added, affirming that the country shall work on attracting new investments.

El-Saeed stressed the importance of rationing expenditures without affecting the country’s social responsibility strategy. He then added that the government plans to improve the healthcare and social security systems through establishing an integrated healthcare system.