Daily News Egypt

Egypt’s ICT sector achieves 17% growth in Q2 of FY 2020/21 - Daily News Egypt

Advertising Area

Advertising Area

Egypt’s ICT sector achieves 17% growth in Q2 of FY 2020/21

Sector’s contribution to Egypt’s total growth reaches 3.5%

The information and communications technology (ICT) sector achieved 17% growth during the second quarter (Q2) of the current fiscal year (FY) 2020/21, according to Hala El-Said, Minister of Planning and Economic Development.

El-Said said, in a statement on Thursday, that the public investments pumped into telecommunication projects increased the sector’s contribution to Egypt’s growth to 3.5%.

She added that the sector’s positive growth benefited from the ongoing tendency towards digitalisation in several sectors, noting that the state will more than double ICT investments in FY 2021/22. 

The Egyptian economy was able to maintain a positive growth rate during Q2 of FY 2020/21, reaching 2%.

The Minister pointed out that the success of the government’s economic reform programme made the Egyptian economy more solid, noting that more than EGP 100bn was allocated to support the sectors affected by the COVID-19 crisis.

Topics: ICT

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter