Planning Ministry: EGP 103bn allocated for “decent life” initiative

The Planning Ministry has allocated some 103 billion pounds for a “decent life” initiative, which was launched by President Abdel Fattah El Sisi in March.

A report by the Ministry said Thursday that the education sector is one of the top beneficiaries, noting that 156 schools should be covered under the initiative.

Sisi’s initiative also gives priority to the sanitation sector, the report added.

About 75 percent of “decent life” investments will go to Upper Egyptian governorates, with Assiut receiving the lion’s share, which amounts to 815.27 million pounds, the report said.

The plan has to do with promoting the role of investment in achieving economic growth, it added.

According to the report, investments have positively contributed to reducing the unemployment rate, which reached 8.1 percent in the third quarter of the fiscal year 2018-2019.

Inflation also dropped to its normal rate, reaching 8.9 percent in June 2019 down from 34.2 percent in July 2017, the report made it clear.

Source: State Information Service Egypt