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Egypt’s government investments rise to EGP 102bn in H1-20/21

Egypt’s government investments rise to EGP 102bn in H1-20/21
Egypt provided an additional investment funding worth EGP 28 billion to some state-owned entities

Cairo – Mubasher: Egypt’s government investments jumped by 59% year-on-year (YoY) to EGP 102 billion in the first half (H1) of fiscal year 2020/2021, compared to EGP 64 billion in the year-ago period, the Minister of Finance, Mohamed Maait, said.

The Ministry of Finance provided an additional investment funding worth EGP 28 billion to some state-owned entities such as the Ministry of Communications and Information Technology, the Ministry of Electricity, and the Ministry of Transport, Maait said in a statement on Thursday.

The additional funding is part of the government’s efforts to enhance infrastructure and improve services provided to citizens across all governorates.

The budget has allocated an additional amount of EGP 14.5 billion for supporting these entities amid the pandemic.