Development in Upper Egypt for inclusive growth
Ahmed Kamel
Inclusive growth and the creation of jobs will be the government's main objective in the coming years. The goal is to combat poverty and broaden the scope of socio-economic development, ensuring that the majority of citizens benefit from growth in the medium and long terms.
One of the goals of Egypt’s economic reforms is to increase GDP per capita, especially in underdeveloped regions. Average per capita GDP at current prices has been on the rise since 2014. It rose from LE27,460 in the fiscal year (FY) 2014/15 to LE58,201 ($3,730) in FY 2019/20, according to data from the Central Bank of Egypt (CBE).
Development in the nation's southern regions is a must to ensure a balanced economic growth for all citizens nationwide.
To that end, the government has unveiled an investment package worth LE92.4 billion (around $6 billion) to develop Upper Egypt. The Ministry of Planning and Economic Development has said the investment plan takes into account characteristics and priorities of each region in the south.
The objective is to bring about real, tangible and rapid development in a bid to improve the quality of life there, and provide opportunities for all Upper Egyptians for decent and better living standards.
The southern governorates of Aswan, Luxor, Red Sea, Qena, Sohag will snatch LE51 billion, or 55.2 per cent, of planned investments. The central Upper Egyptian governorates of Assiut and New Valley take LE12 billion and LE7.6 billion respectively, according to Planning Ministry data.
Minya, Fayyoum and Beni Suef governorates will get LE8.4 billion, LE5.3 billion and LE5.6 billion respectively, Planning Ministry data showed. The development plans are expected to cover a wide range of sectors, i.e. drinking water, sewage, roads, transportation and canal coverage.
The state deems sustainable development as a must in Upper Egypt for fair socioeconomic development. The southern regions have been neglected for decades before President Abdel Fattah El Sisi took the helm in 2014. Now the government is tackling development in Upper Egypt as a strategic objective to combat poverty and create jobs for millions of citizens there.