Al-Mashat outlines comprehensive framework for sustainable development, investment governance
Updated 12/30/2024 8:13:00 AM
Arab Finance: Minister of Planning and Economic Development, and International Cooperation Rania Al-Mashat has announced the development of an integrated framework to enhance sustainability and financing for economic development following the merger of the ministries, as per a statement.
The framework aims to address development gaps and prioritize qualitative growth, focusing on sustainability, equitable distribution of benefits, and human development.
During a session with the Planning and Budget Committee of the House of Representatives, Al-Mashat detailed the ministry's approach, which is structured around three main pillars: enhancing macroeconomic stability and implementing structural reforms, addressing sectoral development gaps, and optimizing resource allocation to stimulate private sector investments.
She emphasized evidence-based policy formulation, targeting areas such as human development, industrial development, technology, and green infrastructure.
For the fiscal year (FY) 2024/2025, the government has committed to efficient spending and targeted investments, adhering to a public investment ceiling of one trillion pounds.
Measures include prioritizing projects nearing completion, focusing on those with over 70% progress, and integrating private sector participation per the State Ownership Document.
The total investment target for the year approaches EGP 2 trillion, with public investments accounting for 50.3% and private investments 49.7%.
Over two-thirds of government investments are directed toward human development and essential services like drinking water and sanitation.
Looking ahead, the ministry has begun preparations for the FY 2025/2026 economic and social development plan, emphasizing inclusive growth, sustainability, and public spending efficiency.
Related News
