Egyptian Minister of Planning and Economic Development Hala el Saeed announced indexes of the electricity sector performance are a key factor to assess the economic progress of the state.
The state is building upon the electricity sector’s performance as one of international competitiveness criteria and in assessing the improvement in living standards for citizens, added Saeed in remarks on Thursday.
The Ministry of Planning and Economic Development is announcing allocations for the electricity sector in the current Fiscal Year plan (2021/2022), the fourth year of the medium-range plan for sustainable development (2018/2019 and 2021/2022).
Saeed said the volume of total investments, which have been allocated for the electricity sector in 2021/2022 plan, are estimated at nearly LE43 billion.
The minister said electrical energy is a cornerstone of achieving sustainable development as all industrial, agricultural, tourism, urban and service sectors rely on it to run facilities and generate the surplus value.
In 2021/2022 year, the production of electricity sector is expected to increase to almost EGP 180 billion, compared to almost LE168 billion in 2020/2021, marking a 7.4 per cent growth rate in the plan’s year and with a 1.8 per cent contribution to Gross Domestic Product for 2021/2022, she said.
