The House of Representatives, headed by Counselor Hanafi Jabali, approved during its plenary session held today the draft economic and social development plan 24/2025, in the presence of Dr. Hala Al-Saeed, Minister of Planning and Economic Development, Dr. Ahmed Kamali, Deputy Minister of Planning, Dr. Jamil Helmy, Assistant Minister for Sustainable Development Plan Follow-up Affairs, Eng. Nihad Morsi, Assistant Minister for Infrastructure Affairs, Dr. Heba Mogheib, Supervisor of the Regional Planning Sector, Ismail Youssef, Supervisor of the Plan Preparation and Follow-up Sector, Dr. Muhammad Maghribi, Supervisor of the Human and Social Development Sector..
In the context of completing the response to the Council members’ inquiries about the draft economic and social development plan for the fiscal year 24/2025 in the plenary session, Dr. Hala Al-Saeed expressed her appreciation for the concern regarding the issue of external loans, explaining that the loan is one of the means of financing, and it is important that it has a set of determinants, components and caveats. Therefore, the decision of the President of the Republic came to establish the External Debt Committee to follow up on the debt position and set the determinants for the rationalization and governance of the external debt process. .
The Minister of Planning and Economic Development added that the committee has a set of specifications, including that the loan must have a development study, be on easy terms, in addition to the loan being among the state’s priorities, and that it be directed to a technological component or a foreign component that has added value and does not exist in Egypt, and it is not directed to a component. Local, with the loan period being extended for as long as possible in order to spend on some investment components that were difficult to spend on in the past.
Dr. continued. Hala Al-Saeed said that during the period from 2003-2014 there were no investments in infrastructure, as that period lacked a good infrastructure of decent public transportation for citizens, considering that the Egyptian citizen has the most valuable wealth in the country, in addition to the presence of a good road network, which is… A lifeline for the development process in the country.
Al-Saeed indicated that as a result of investments in the road network in Egypt, road accidents decreased by 34%, according to the automated system for fatalities that the Ministry of Planning and Economic Development is working on.
As confirmed by Dr. Hala Al-Saeed, the importance of the Sovereign Fund of Egypt, which is the investment arm of the state, pointing to the localization of the train industry, which is a technology- and labor-intensive industry, pointing out that the industrial fund that is being started, is working through it on a group of feeding industries, in order to work to complete the system. And reduce imports.
The House of Representatives finally approves the draft economic and social development plan 24/2025
