Egypt's Five-year plan of 2002/2007 worth LE 362.7 billion
Egypt, Economics, 3/20/2002

A senior government official yesterday estimated that the total investment requirement for the next five-year-plan (2002/2007) would be LE 362.7 billion, with an annual average investment of LE 73.5 billion, and a yearly growth rate of six per cent.

Chairing the fourth meeting of the joint planning committee with the private sector, minister of planning Osman Mohammed Osman added that the private sector was targeted to provide about 70 per cent of the annual investments for the plan (approximately le 50 billion) annually, with the state providing the other 30 per cent.

"This is the target for the coming five years but, in light of certain economic conditions, the private sector is only expected to provide about 52-55 per cent during the first year, that is about LE 38 billion, and the rest will be supplied by the government," Osman said.

Representatives attended the meeting from the private sector, business organizations, the federation of Egyptian chambers of commerce, and the Federation of Egyptian Industries.

The discussions also covered proposals from the private sector about hitting the plan's targets as well as views on the future of Egypt's economy up to 2022.

Osman also noted that the general climate in which the plan was drawn up has been affected by various economic changes, particularly in respect to the slow economic pace following the events of September 11.

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