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Egypt spends EGP 4trn to correct economic course since 2014: Madbouly - Daily News Egypt

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Egypt spends EGP 4trn to correct economic course since 2014: Madbouly

Developing unsafe and informal settlements has cost about EGP 424bn so far

Egypt’s Prime Minister Mostafa Madbouly revealed that the government has, since 2014, spent over EGP 4trn to correct the course of the local economy and achieve development.

He also confirmed the completion of all water projects that the government had put in place for implementation.

Speaking at the Armed Forces’ 32nd Cultural Symposium, in the presence of President Abdel Fattah Al-Sisi, Madbouly added that the cost of developing unsafe and informal settlements amounted to about EGP 424bn.

Of the previous 357 unsafe areas that could be found across Egypt, only 61 areas still need development. The Prime Minister said that Egypt will announce it is free of informal settlements soon.

Madbouly noted that the quality of services provided to citizens in unsafe areas has been developed. He said that no country in the world implements national projects in the way that Egypt does, particularly in providing all services to citizens in new cities and settlements that have been developed.

The Prime Minister highlighted that the government has spent EGP 93.5bn in the current fiscal year (FY), through development programmes implemented by the state. These include developing comprehensive health insurance, as well as investments in service sectors.

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