Second Package of Egypt Stimulus Plan to Launch by Second Half of FY

Dr. Ziad Bahaa El-Din, Egypt’s Deputy Prime Minister for Economic Affairs and Minister of International Cooperation, said the details of the second package for economy stimulus will be announced within the second half of the current fiscal year.

He added during the press conference which held yesterday regarding the government’s plan to stimulate the investment.

He said the government would not mind pumping other packages to stimulate the economy in case of completing allocations which have been pumped in the first phase, worth EGP29.5billion.

Bahaa El-Din pointed out that the government will seek within the Gulf-Egyptian Investment Forum that will hold in the next month to promote its projects which have announced during the current period and to encourage the private sector in order to contribute in these projects.

He said in an exclusive to the Minister of Investment Osama Saleh the second package for stimulating the economy reached EGP24billion.