Pumping Fresh Economic Stimulus Packages Depend on Private Sector’s Investments

Dr Ashraf El Araby, Minister of Planning and International Cooperation said the government is ready to pump much more packages for economy stimulus after finalizing the implementation of the first package’s projects but the affair depends on private sector’s investments size which will be pumped for the fiscal year of 2013-2014.

The Minister added within his visiting to Gharbia that the governorate is aiming to achieve 3.5% growth rate within the current fiscal year through pumping fully investments worth EGP290 billion including EGP170 billion for the private sector, but the political and security conditions which may affect on the investments of the private sector pushed the government to boost the governmental investment allocations with EGP 29.7 billion.

He said in case of attaining private sector investments for the government’s goals; the Ministry won’t need to pump packages for economy stimulus, noting that the Ministry is currently putting more short-term plans in order to stimulate the economy.