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Egypt aims to invest EGP 244.7bn in transport sector in FY21/22

Egypt aims to invest EGP 244.7bn in transport sector in FY21/22
Minister of Planning and Economic Development, Hala El-Saeed

Cairo – Mubasher: The Egyptian Minister of Planning and Economic Development, Hala El-Saeed, reviewed the objectives of the transportation sector for fiscal year (FY) 2021/2022 as part of the medium-term sustainable development plan between FY18/19 and FY21/22.

Target investments allocated for the transport sector in FY21/22 are estimated at EGP 244.7 billion, a leap of 104% from the target investments for FY20/21, El-Saeed said in a statement on Thursday. 

The transport sector is planned to grow by 3.8% in FY21/22 and its production is expected to rise by 9.1% to EGP 469 billion at current prices from an expected of EGP 430 billion in FY20/21. 

The output is seen to be rising by 10.1% to EGP 345.6 billion at current prices from EGP 313.9 billion. 

The transport sector is forecast to contribute 4.7% to the country's real gross domestic product (GDP) in the current fiscal year.