Arab Finance: The House of Representatives has given its final approval on the country’s economic and social development plan for fiscal year (FY) 2024/2025, according to an official statement on June 4^th.

On May 26^th, Minister of Planning and Economic Development Hala Elsaid announced that Egypt’s gross domestic product (GDP) at current prices is expected to reach EGP 17.3 trillion under the FY 2024/2025’s economic and social development plan, up from the expected EGP 13.9 trillion in the current FY.

The country is also targeting achieving a real economic growth rate of 4.2% in FY 2024/2025, compared to the expected rate of 2.9% in the current FY, the minister said.

She also highlighted that the total targeted investments for the coming FY are estimated at EGP 2.25 trillion, exceeding EGP 2 trillion for the first time, compared to expected investments of EGP 1.65 trillion in the current FY and actual investments worth EGP 1.3 trillion in FY 2022/2023.

In addition, the FY 2024/2025 plan is targeting around EGP 1 trillion in public investments, Elsaid noted, adding that nearly EGP 496 billion was allocated for government investments.

Furthermore, she stated that the country allocated EGP 268 billion in public investments, or 27% of the total investments, to the education, health, and social services sectors under the 2024/2025 plan.

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