The Egyptian Ministry of Planning and Economic Development issued a report revealing the goals and investments of the communication and information technology (CIT) sector under the fiscal year (FY) 2022/2023 plan. Egypt's Minister of Planning, Hala El-said, noted that Egypt targets EGP 67.10 billion worth of investments in the CIT sector under the FY22/23 plan. This represents a 15% increase when compared to expected investments of EGP 58.20 billion at the end of FY21/22. Investments in the CIT sector account for 5% of the total investments of the plan. In FY20/21, the sector’s growth reached 16%, compared to 15.20% in FY19/20, whilst digital exports jumped to $4.50 billion from $4.10 billion.

Source: The North Africa Journal November 25, 2022 02:56 UTC