The government’s economic and social development plan for fiscal year (FY) 2018/19 includes total investments of EGP 942bn. The new plan marks a 46% increase compared to FY 2017/18.
The plan was revealed by Prime Minister Sherif Ismail during a cabinet meeting on Thursday. Ismail explained that it is the largest investment plan in Egyptian history, and it will be implemented by government bodies and the private sector.
He added that the most important projects prioritised by the government in the new budget are the development of education and health and the implementation of the new comprehensive national health insurance system.
Furthermore, the cabinet aims to restructure the ministries so that the transition to the New Administrative Capital is also accompanied by improvement in performance.
Ismail explained that government authorities and ministries are to be transferred to the New Administrative Capital by mid-2019.