Economics
Egypt Shifting Focus to Private Investments as Growth Driver
- Shift away from public investments reflects reforms gains
- Planning minister says economic reforms paying dividends
Traffic along a bridge spanning the river Nile, in Cairo, Egypt.
Photographer: Shawn BaldwinThis article is for subscribers only.
Egypt expects private investments to take the lead in driving economic growth this year, the planning minister said, suggesting that investor confidence had rallied enough to supplant what has so far been an overwhelming reliance on government spending.
Private investments are expected to contribute 60 percent of economic growth in the current fiscal year ending in June, compared to 48 percent last year, the minister, Hala El Saeed, said in an interview in Cairo. The figure is expected to rise to between 62 percent and 65 percent in the coming fiscal year, she said.