PM: 8,278 Projects Finalized Over Past 4 Years

Prime Minister Mostafa Madbouli reviewed what was achieved in various fields over the past four years; between July 2014 and December 2018.

Addressing the inauguration ceremony of a sewage treatment plant in Qalyoubia’s el Khanka district in the presence of President Abdel Fattah El Sisi, Madbouli said a total of 8,278 projects have been finalized during this period with total investments of EGP 1.56 trillion.

These projects have provided millions of job opportunities, he said, noting that national projects have made a real breakthrough in Egyptian economy, thanks to President Sisi’s almost daily follow-up.

Madbouli also expressed thanks to former prime ministers Ibrahim Mahlab and Sherif Ismail for their contributions to these projects.

Commenting on the sewage treatment plant inaugurated today, the premier said it is one of the world’s three largest projects in this field, describing it as a city.

Meanwhile, Madbouli said economic indicators show that unemployment rates in Egypt declined to less than 10 percent for the first time in years, adding that the government program aims to reduce it to 8 percent or less.

He also indicated that November 2018 saw a negative inflation rate in the country, the best level ever achieved since 2015.

Madbouli said Egypt’s electric capabilities have been provided with 25,000 additional megawatts after they were just 20,000 megawatts in 2014, resulting then in continuous blackouts and power shortage problems.

He also noted that a large number of petroleum and gas projects have been implemented over the past four years, which helped Egypt pay back its debts to foreign partners.

These debts have been accumulated after Cairo previously started to import gas to meet its demands, he indicated.

In the same regard, the prime minister pointed out to the discovery of the Zohr gas field, which he said has enabled Egypt to achieve self-sufficiency of gas.

Meanwhile, Madbouli described as unprecedented what has been achieved over the past four years in the transport sector, noting that some 5,900 kilometers have been added to Egypt’s roads network.

He added that Egypt’s railways will have a new shape by 2020. Commenting on education, Madbouli said a large number of schools have been established over the past four years. He also pointed out to the new schools that are being expanded, such as Japanese schools and Nile schools.

The premier went on to say that lots of projects have been carried out in the sports field, noting that more than 4,000 youth centers have been established or developed with total investments of more than EGP 5 billion.

Madbouli added that the State established some 1.7 million housing units between 2014 and December 2018, compared to 383,000 units in 9-10 years until mid-2014.

Out of the 1.7 million housing units, 550,000 ones have been finalized, he said. The premier said the government targets the establishment of 730,000 housing units by June 30, 2020.

The price of the housing unit is due to be paid over an installment period of 20 years, he said.

Madbouli noted that President Abdel Fattah El Sisi is set to inaugurate some 20,650 housing units in various cities at a total cost of EGP 2.4 billion.

The prime minister said some 236 water projects have been implemented over the past four years with total investments of EGP 32 billion.

He added that Egypt also carried out 609 sanitation projects, including 103 ones in cities.

By June 30, 2020, about 44.5 percent of Egyptian villages would have been provided with water and sanitation services, noting that 10 projects have been finalized and are ready for inauguration at a total cost of EGP 2.1 billion.