Plan 2002-2007 has allocated L.E. 5,700 million for Capital Market Authority

The new five-year plan 2002-2007 has allocated L.E. 5,700 million for Capital Market Authority (CMA), of which L.E. 1.5 million for the first year 2002-2003.

Moreover, L.E. 4 million have been allocated for the CMA Information Center and L.E. 1,700 million for uplifting performance. On the other hand, the plan set the key policies for activating and promoting Egyptian capital market that include revitalizing governmental bonds and treasury bills and encouraging private sector that is able to provide medium and long-term finance through issuance of bonds.

This is in addition to supporting the role of principal investors in realizing a balance with individual investments, especially financial institutions, state-owned and business sectors’ pension funds and private savings funds, not to mention establishment of companies specialized in managing securities portfolios and savings funds.

On the other side of the coin, the plan allocated L.E. 39,100 million, for the Ministry of Public Business Sector, of which L.E. 7,100 million for the firs year of the plan 2002-2003 while the allocations of the General Cabinet and Information Center of the Ministry hit L.E. 17,700 million and L.E. 6,400 million respectively.