{"id":617820,"date":"2024-03-28T00:00:00","date_gmt":"2024-03-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/govt-unveils-new-economic-and-social-development-targets-for-the-next-fiscal-year\/"},"modified":"2024-03-28T00:00:00","modified_gmt":"2024-03-28T00:00:00","slug":"govt-unveils-new-economic-and-social-development-targets-for-the-next-fiscal-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/govt-unveils-new-economic-and-social-development-targets-for-the-next-fiscal-year\/","title":{"rendered":"Gov\u2019t unveils new economic and social development targets for the next fiscal year"},"content":{"rendered":"

Gov\u2019t updates growth forecast for the upcoming fiscal year: <\/strong>The Madbouly government now sees the economy growing at a 4.2% clip in fiscal year 2024-2025, according to a cabinet statement<\/a>. That\u2019s a 0.2 percentage point upward revision from a projection indicated in a Ittihadeya statement a day earlier<\/a>. The target is part of the government\u2019s economic and social development plan for the upcoming fiscal year, which was greenlit by cabinet yesterday.<\/p>\n

The game plan: <\/strong>Key targets under the economic and social development plan include:<\/p>\n

#1- Ramping up private investments<\/strong>to about 50% of total investments<\/strong>, in line with the goals of the state ownership policy and the government\u2019s efforts to raise the private sector\u2019s involvement in the economy.<\/p>\n

#2- Hiring some 150k school teachers<\/strong> to ensure that new schools deliver quality education, while continuing to build technological universities and push for the accreditation of public universities.<\/p>\n

#3- Raising the private sector\u2019s share in healthcare to 50% by 2027<\/strong> \u2014 up from a current 30%.<\/p>\n

Also <\/strong>approved<\/a><\/strong> by cabinet:<\/strong><\/p>\n