Market is closed

EGX 30 10,642.02 0.43%

Count Down to relaunch



Egypt allocates EGP 73.8B for agricultural sector in FY 2021/2022

Egypt allocates EGP 73.8B for agricultural sector in FY 2021/2022

ArabFinance: Ministry of Planning and Economic Development plans to invest a total of EGP 73.8 billion in the agricultural sector in Egypt during the fiscal year (FY) 2021/2022, compared to expected investments worth EGP 43 billion for FY 2020/2021, planning minister Hala El Said revealed in a statement.

This comes as part of the ministry’s targets for the agricultural sector under the state’s budget for FY 2021/2022.

Agriculture contributes to Egypt’s gross domestic product (GDP) with nearly 15%, according to the statement.

The state’s budget for FY 2021/2022 targets boosting the agricultural production to around EGP 1,118 billion, with a growth rate of 9% YoY, as well as raising the GDP from the agricultural sector by 11% to reach EGP 821 billion.

It is worth noting that total investments in the Egyptian agricultural sector amounted to EGP 39.5 billion as part of the state’s budget for FY 2019/2020.

#Related keywords

Recommended Stocks

11 Oct 2020
Tenth Of Ramadan Pharmaceutica... RMDA
Close
02.11
Change
-00.89
Buy

All rights reserved to Arab Finance 2020 ©

Back to top