Planning Ministry allocates direct investments of LE 83.4B into telecom and IT sector

Hala El Said, Minister of Planning and Economic Development, presented the economic, social development plan for the Fiscal Year 2023/2024 (FY23/24) to the parliament today.

El Said stated that the plan is focusing on the telecommunications and information technology sector considering its importance and contribution to Egypt’s economy.

The Minister stated that LE 83.4 billion were allocated as investments for this sector in the FY24/23, with a growth rate of 49 percent over the expected investments for the previous FY23/22, which amounted to about LE 56 billion.