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Egypt’s Public Investments Grow 535% In 6 Years

Egyptian Minister of Planning Hala Al-Saeed (Asharq Al-Awsat)
Egyptian Minister of Planning Hala Al-Saeed (Asharq Al-Awsat)
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Egypt’s Public Investments Grow 535% In 6 Years

Egyptian Minister of Planning Hala Al-Saeed (Asharq Al-Awsat)
Egyptian Minister of Planning Hala Al-Saeed (Asharq Al-Awsat)

Egyptian Minister of Planning Hala Al-Saeed said that her country expects growth rate to range between six and seven percent in the second quarter of the current fiscal year.

She stressed that the government has been keen to maintain the boom achieved in public investments improve the quality of life, upgrade the level of services, and stimulate comprehensive and sustainable economic growth.

In this regard, the minister noted that the volume of public investments in the current during 2021-2022 amounted to about 933 billion pounds ($59 billion), with a growth rate of 46 percent compared to the previous year, and an increase of 535 percent compared to the 2014-2015.

Saeed was speaking on Tuesday, during the third edition of the Egypt Economic Summit, which is held under the auspices of the Council of Ministers.

She said that the cumulative total of public investments during the period of 2014-2022 amounted to about 3.6 trillion pounds ($230 billion), and the per capita share of public investments this fiscal year increased by 44 percent compared to the previous year, and by 440 percent compared to 2014-2015.

Saeed emphasized the government’s determination to pump huge investments to boost the economy at an accelerated pace, by pushing the wheel of investment, production and employment in all economic sectors, and focusing on developing infrastructure and advancing the human and social development sectors.

Saeed added that despite the relative recovery of global economic indicators with an expected growth rate of 5.9 percent in 2021, the effects of the pandemic are still present, especially with the emergence of new variants and their negative repercussions on the supply chains worldwide.

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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.