Egypt Targets $55 Billion Investment in 2023-2024

Egypt plans to attract nearly 1.65 trillion Egyptian pounds ($55 billion) in investments during the 2023-2024 fiscal year, with the private sector expected to contribute about 35.4% of this total.

Egypt Targets $55 Billion Investment in 2023-2024
Photo by Adam Bichler / Unsplash

The Egyptian Planning Ministry has announced an ambitious investment target for the current fiscal year, aiming for a total of approximately 1.65 trillion Egyptian pounds ($55 billion). This initiative is part of the government's strategy to stimulate economic growth and development across the country.

The private sector is anticipated to play a significant role in achieving this goal, with an expected contribution of nearly 600 billion Egyptian pounds ($19.4 billion), or 35.4% of the total investment. These investments are crucial for Egypt to reach its growth target of 4.1%, as outlined in a report published in Addustour and other newspapers.

The fiscal year, which concludes on June 30, is a critical period for the nation to advance its economic objectives and solidify its position as a leading economy in the Arab world.

Source: Zawya