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Public investments in Sohag, Qena rise 62% in FY 2020/21: Planning Minister

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Public investments in Sohag, Qena rise 62% in FY 2020/21: Planning Minister

Latest data on Egypt’s income, spending affirms success of country’s poverty reduction policies, says Hala El-Said


Public investments allocated under the fiscal year (FY) 2020/21 plan to the Upper Egypt governorates of Sohag and Qena have risen significantly, Minister of Planning and Economic Development Hala El-Said revealed on Tuesday.

As part of the local development programme to increase public investment in Egypt’s poorest governorates, Sohag Governorate has seen a 38% increase to EGP 6.3bn in FY 2020/21. Meanwhile, Qena Governorate received a 62% increase to EGP 6.6bn, compared to the beginning of the programme in FY 2016/17.

El-Said’s remarks came on the sidelines of a meeting by the Higher Committee for the Management of the Local Development Programme in Upper Egypt. Also present at the meeting were Minister of Local Development Mahmoud Shaarawy, and Minister of Finance Mohamed Maait.

El-Said indicated that the latest data on income and spending in Egypt affirms the success of the country’s poverty reduction policies.

The average per capita allocation from public investments in Sohag Governorate rose to EGP 1,200 in FY 2020/21, up from EGP 500 in FY 2015/16. Meanwhile, Qena Governorate saw a per capita rise to EGP 1,900, up from EGP 500 in the same reference period.

El-Said added that poverty levels in urban and rural Upper Egypt during FY 2019/20 declined by 1.06% and 3.79%, respectively, compared to the levels recorded in FY 2017/18.

“A total of 1,749 projects have been completed over the past four years since the start of the Upper Egypt Development Programme, at a total cost of EGP 2.4bn,” the minister said, “A total of 532 of these projects took place in Qena Governorate, receiving EGP 1.3bn of investments, and 1,217 projects were in Sohag Governorate, with a total investment of EGP 1.1bn.”

 

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https://dailyfeed.dailynewsegypt.com/2020/12/29/public-investments-in-sohag-qena-rise-62-in-fy-2020-21-planning-minister/
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