Egypt’s government investments surged by 50.5% year-on-year (YoY) to EGP 289 billion during fiscal year (FY) 2020/2021.
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Allocations for government investments in FY21/22 amounted to EGP 358.1 billion as the public treasury-financed investments increased by 28% YoY, the Minister of Finance, Mohamed Maait, said in a statement on Thursday.
The allocated government investments in the current fiscal year are six times higher than those in FY13/14 which reflects the government’s commitment to meet the citizen’s needs and attract new investments.
