Cairo – Mubasher: The Egyptian minister of planning and economic development Hala El-Saeed revealed that macroeconomic investments are expected to drop to EGP 740 billion in fiscal year 2020/2021, compared to an expected EGP 840 billion in FY19/20.
Expected macroeconomic investments for the next fiscal year are also lower than those achieved in FY18/29, EGP 970 billion, El-Saeed said before the parliament on Tuesday.
A total of EGP 595 billon has been allocated to public investments for the coming fiscal year, including EGP 281 billion worth of government investments, to offset the potential slowdown in private investments due to the economic disruption caused by the coronavirus (COVID-19) outbreak.
