Egypt allocates 7.6 trillion pounds for human development investments over 12 years.
Arab Sea Newspaper - Follow-ups
Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, affirmed that investing in people is at the heart of Egypt's development strategy, noting that the state has directed direct and indirect public investments of about 7.6 trillion pounds during the period from 2014 to 2026 to enhance the health, education, social, and cultural services sectors. Al-Mashat explained, during her speech at the third edition of the Global Conference on Population, Health, and Human Development in Cairo, that the percentage of investments directed to human development sectors increased from 17% in 2014 to 28% in 2026, reflecting the state's priority to build the Egyptian person and improve the quality of life. She added that the general framework for comprehensive development is based on developing human capital as a main input for achieving sustainable economic growth, through improving education and health services, developing skills, and expanding the umbrella of social protection, with a focus on spatial justice in the distribution of investments, especially in Upper Egypt governorates and border areas. She pointed out that the government has succeeded in mobilizing soft international financing of about $9.5 billion since 2014, 25% of which is through grants, to support major projects such as "Decent Life," "Takaful and Karama," comprehensive health insurance, and community education schools, which contributed to the improvement of human development indicators such as increased life expectancy, increased health and educational coverage rates, and a decline in illiteracy rates. The Minister indicated that the state is adopting an economic model based on productivity and knowledge, which enhances the role of the private sector and stimulates innovation and entrepreneurship, with the aim of raising the average growth of per capita income to about 4.5% annually, through promising sectors such as agriculture, tourism, technology, and entrepreneurship. Al-Mashat concluded by emphasizing that "the human being remains the focus and foundation of development," stressing that the government is continuing to implement the "National Narrative for Economic Development" which is based on empowerment, innovation, and fairness in opportunities to ensure a more sustainable future for future generations.
