Egypt’s President Abdel Fattah El Sisi signed Law No.149 for Year 2024 approving the economic and social development plan for the Fiscal Year 2024/2025.
The first article of the law stipulates that the general objectives of the framework of the economic and social development plan for the year 2024/2025 are to increase total resources in terms of current market prices to reach EGP 21,809.4 billion and to increase the gross domestic product in terms of current market prices to reach EGP 17,285.5 billion, with a real growth rate measured in terms of constant prices of (4.2%).
The second article of the law stipulates that the program for purchasing non-financial assets shall approve investment uses in the 2024/2025 plan with a total of EGP 1,987 billion, of which EGP 987 billion for the private and cooperative business sector and EGP 1,000 billion for public investments, of which EGP 495.8 billion are government investments, with EGP 280 billion to finance budget deficit, EGP 333.5 billion pounds for economic bodies, about EGP 59.7 billion pounds for public companies, and EGP 111 billion pounds for other central investments.
The law was published in the official gazette out Thursday.
