Planning minister says 4.1 percent is targeted growth rate for upcoming fiscal year
Minister of Planning and Economic Development Hala El Saeed said the economic and social development plan for Fiscal Year 2023/2024 aims at investing in the human capital and achieving an economic growth rate of 4.1 percent with education and health hitting the priorities of the plan.
In statements on Friday on the occasion of the cabinet approval of the economic and social development plan for FY 2023-24, El Saeed said the plan is basically aimed at investing in the human capital and achieving human development, which is the basic driving force for socioeconomic development.
El Saeed pointed out that the plan’s basic factors focus on continuing projects whose implementation rates exceeded 70 percent along with managing the investment requirements needed for other projects to be completed, adding that the private sector will be more involved as part of the State Ownership Policy Document.
She also added that the education and health sectors will figure high on the priorities’ list of the upcoming fiscal year, adding that the education sector is currently carrying out 1,051 projects and the health sector is working on 627 projects.
The list of priority sectors also include agriculture, industry, communications, digital transformation and green projects, according to her.
The minister highlighted the need for enhancing public investment in social protection programs, highlighting the progress achieved in “Decent Life” initiative in the Egyptian countryside. She made it clear that the first phase of “Decent Life” projects in FY 2023-24 cover building 167 sanitary drainage stations, supplying electricity for 1,466 villages as well as setting up 323 water purifying stations along with 24 central hospitals, 1,102 health units, 332 governmental complexes plus 1,303 schools.
She noted that the second phase of “Decent Life” aims at establishing 52 city halls and covering 1,600 villages which are home to as many as 21 million persons.