LE 1.5B investments for Agriculture Ministry under 2019/2020 plan

CAIRO – 9 May 2019: The Planning Ministry said LE 1.545 billion has been allocated for the Agriculture Ministry’s investments under the country’s 2019-2020 plan.

In a statement on Thursday, the ministry said that realizing food security and self-sufficiency of strategic commodities is a top priority.

The statement added that the ministry plans to up Gross Domestic Product – which reached about 3.5 percent in the first half of 2018-2019 – to 3.7 percent by the end of the year.

The statement added that agro-exports are expected to up 5 percent in 2018-2019/2019-2020, noting that the government is seeking to develop small and medium-sized enterprises in the agricultural sector to secure jobs and raise standards of living in rural areas.

The agricultural sector’s contribution to the economic growth rate reached about 6.3 percent in the third quarter of 2018-2019 against 5.7 percent in the corresponding period in 2017-2018.

The statement added that there are plans to develop Halayeb and Shalatin area at LE 20 million in addition to upgrading the land tenure data base at LE 30 million.

The ministry added that LE 50 million was earmarked for improving soil for better harvests.