Egyptian Minister Unveils Plan to Expand Social Protection, Education, and Healthcare

Egypt unveils $493M plan to boost social protection, education, and healthcare, aligning with Vision 2030 goals of reducing unemployment and empowering SMEs.

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Hadeel Hashem
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Egyptian Minister Unveils Plan to Expand Social Protection, Education, and Healthcare

Egyptian Minister Unveils Plan to Expand Social Protection, Education, and Healthcare

Egyptian Minister of Planning Hala El-Said has announced a new plan that prioritizes the expansion of social protection, education, and healthcare in the country. The plan aims to improve the living standards of Egyptians and ensure access to essential services for all citizens, including the large number of foreign residents and refugees living in Egypt.

According to the minister, the plan will provide financing worth 1.85 billion Saudi Riyals (around $493 million) to support individuals and enterprises in the first three months of 2024. This includes 606 million Riyals allocated to assist over 1,700 small and startup businesses. The plan also includes 640 million Riyals in empowerment support for communities, benefiting 12,000 citizens through various social development products.

El-Said emphasized that assistance for freelancers and productive families has increased to 600 million Riyals, benefiting 13,000 individuals. Additionally, the number of savings accounts has grown by 13,000, reaching a total of 245,000 with a balance exceeding 525 million Riyals.

Why this matters: The Egyptian government's focus on expanding social protection, education, and healthcare is vital for promoting sustainable development and improving the quality of life for its citizens. By investing in these key areas, Egypt aims to reduce unemployment, enhance women's participation in the workforce, and support the growth of small and medium-sized enterprises.

The minister highlighted that the plan aligns with the objectives of Egypt's Vision 2030, which aims to reduce the unemployment rate, enhance women's participation in the workforce, and expand the contribution of small and medium-sized enterprises to 35% of the gross domestic product by the end of the decade.

In addition to the social protection plan, the Egyptian government is also taking steps to develop the country's tourism industry. This includes establishing a free zone for yacht manufacturing and constructing a walkway connecting the Grand Egyptian Museum and the Pyramids of Giza.

The Egyptian Cabinet, led by Prime Minister Mostafa Madbouly, recently held a meeting to discuss various political, economic, and social issues, as well as global developments. The Cabinet reviewed important laws and ministerial decisions aimed at achieving economic and social stability, encouraging investments, and supporting national projects, such as the 'Decent Life' initiative to develop villages in the Egyptian countryside.

Key Takeaways

  • Egypt plans to expand social protection, education, and healthcare.
  • $493M in financing to support individuals and enterprises in 2024.
  • Assistance for freelancers and families increased to 600M Riyals.
  • Plan aligns with Egypt's Vision 2030 to reduce unemployment and boost SMEs.
  • Egypt also developing tourism industry, including a yacht manufacturing free zone.