With investments of 942 billion pounds. Details of the economic and social development plan

The government begins today, July 1, 2018, the development plan economic and social development for the new fiscal year 2018-2019, targeting approximately 942.2 billion pounds.

These investments are split between the commodities and productive and social services sectors by 46%, 24% and 30%, respectively, to reach a growth rate of 5.8%.

Public investment

estimated at 148.5 billion pounds in the economic and social development plan, of which 95 billion are financed by the Treasury, against 65 billion pounds in the last year 2017-2018 , an increase of about 46%.

The plan also targets 58 billion Egyptian pounds, accounting for 40% of public investment to achieve constitutional benefits, 14% more than the plan of last year 2017-2018.

Health projects account for 50%, education and training projects 30% and scientific research projects 20%.

The project plans to ship 275 million pounds for the transfer of water from the west to the east of the cbad in order to cultivate 50,000 feddans, in addition to devoting 164 billion of books to 270 projects of drinking water and sanitation. In addition to directing 10 billion pounds to develop the southern governorates of Upper Egypt.

Unemployment

The economic and social development plan for the new fiscal year aims to create 750,000 jobs and reduce the unemployment rate to 10.4% in 2019, compared to 10.6% this year.

while the government aims to reach the unemployment rate at 8.5% by the year 2021-2022.

Investment Rates

The 2018-2019 Economic and Social Development Plan aims to increase the investment rate as a percentage of GDP by 18% by the end of the year. year, against 16.2% expected by the end of the 2017-2018 fiscal year.

The plan also aims to bring foreign direct investment to $ 11 billion.

See also: 60 billion pounds for social protection in the light of new increases?

Growth rate

The plan aims to achieve positive growth rates in all sectors and economic activities, reaching 11% in the construction sector and 10% in the communications and production sectors .

The plan also seeks to structurally change the sources of economic growth so that the investment component and net exports account for more than 67% of the average annual growth of the 2021-2022 medium-term sustainable development plan years, contrasting with the decline in consumption. 88% of the growth achieved in 2016-2017.

Inflation

The economic and social development plan for the new fiscal year 2018-2019 aims to reduce the inflation rate to 9.7%, compared to 11.5% currently.

Inflation is defined as the overall rate of increase in the price of goods and services in an economy over a given period, a measure of devaluation of the currency of a country, the surveillance of inflation and adjustment of interest rates.

Savings

The economic and social development plan for the new fiscal year 2018-2019 targets a savings rate of 11.1% by adopting a set of measures and policies aimed at stimulating savings. and rationalize public consumption.

The savings is intended to reduce a portion of income and temporary deprivation of consumption to pay money in the arteries of the economic cycle of society.The savings of society are accumulated through channels different, to be pumped in different ways of investment. Decreasing from 13% in 2010-2011 to 8% in 2011-2012, 7.9% in 2012-2013, 5.3% in 2013-2014, then 5.9% in fiscal year 2014-2015, then dropped to 5.8% currently.