Latest news with #HayaKarima
Egypt Today
19 hours ago
- Politics
- Egypt Today
PM Madbouly follows up on funding of ‘Haya Karima' initiative projects
CAIRO -19 June 2025: Prime Minister Mostafa Madbouly chaired a meeting on Thursday to review the funding status of projects under the presidential 'Haya Karima', Decent Life initiative. The meeting was attended by Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat, Minister of Housing, Utilities and Urban Communities Sherif El-Sherbiny and several other senior officials. Cabinet Spokesperson Mohamed el Homsany said Madbouli closely followed up on the funding developments for the first phase of the initiative, which is set to conclude soon. He reaffirmed ongoing coordination with relevant ministers and authorities to monitor the implementation of the initiative as one of the country's most significant presidential development programs that aims to improve the living standards of millions of rural citizens through the provision of modern infrastructure, integrated social services, and sustainable job opportunities. The meeting also reviewed progress on projects in the first phase and preparations for the launch of the second phase of the initiative. The discussions included an overview of investment allocations for key national programs, including the 'Building the Egyptian Citizen' program and targeted investment in Upper Egypt. The meeting also addressed improvements in public service indicators such as sanitation, drinking water, natural gas, and high-speed internet access in villages covered by the initiative's first phase.
Egypt Today
2 days ago
- Business
- Egypt Today
Egyptian parliament approves of new national budget plan, gov't seeks 4.5% growth next year
Cairo – June 18, 2025: Egypt's House of Representatives has endorsed the national budget and economic development framework for FY2025/2026, setting a target for real GDP growth of 4.5 percent. This represents a significant increase from the 2.4 percent growth recorded in FY2023/2024. Planning Minister Rania Al-Mashat presented the plan amid ongoing regional uncertainties, noting that preliminary indicators from the first nine months of the current fiscal year signal improving economic performance. She highlighted that the plan focuses on structural reforms and concentrated investment to navigate these complex conditions. Public investment in the upcoming fiscal year is projected at approximately LE 1.158 trillion, up from about LE 1 trillion allocated in FY2024/2025. Nearly 28 percent of this amount—LE 327 billion—is dedicated to human development sectors, including health, education, and social services. The state budget will contribute LE 219 billion toward these areas. The government reiterated its commitment to the Haya Karima (Decent Life) initiative aimed at rural development, with phase one receiving LE 350 billion to improve living conditions for 18 million residents in over 1,400 villages across 20 governorates. The second phase allocates funds for essential infrastructure and expanding universal health insurance. In line with its reform agenda, the government plans to reduce direct state involvement in the economy. A new State Ownership Policy Law, recently passed by parliament, encourages greater private sector participation. Meanwhile, a review is underway to restructure 59 economic authorities, determining their future status through a committee supported by technical expertise. To enhance governance and investment management, the Adaa system—tracking 4,000 performance metrics across 36 ministries and agencies—will be further expanded. Training is ongoing to help public entities utilize a centralized digital platform covering 270 state-owned companies, aiming to improve transparency and efficiency. Funding for land compensation related to national projects has increased to LE 16 billion for the combined fiscal years FY2024/2025 and FY2025/2026, with more than LE 3.4 billion allocated to projects in Giza. Additionally, the government plans to conduct a new economic census via the Central Agency for Public Mobilization and Statistics (CAPMAS) to better capture informal economic activity and inform policy decisions. Minister Al-Mashat stressed that the plan's formulation took place amid 'delicate circumstances' worsened by rapid regional developments. She called for flexible planning and continuous monitoring to adapt to evolving conditions, while expressing gratitude for parliament's thorough review and constructive input.
Al-Ahram Weekly
3 days ago
- Business
- Al-Ahram Weekly
Egypt targets 4.5% growth amid regional uncertainty, boosts public investment to EGP 1.15 tln - Economy
Egypt's parliament has approved the national budget for fiscal year 2025/26, which begins on 1 July. The budget sets a real GDP growth target of 4.5 percent, nearly double the 2.4 percent growth recorded in FY2023/24. The Ministry of Planning, Economic Development, and International Cooperation (MOPEDIC) stated that growth in the first nine months of the current fiscal year has also improved, based on preliminary data. Planning Minister Rania Al-Mashat presented the government's economic and social development plan to address regional instability and economic challenges through structural reforms and targeted investment. Public investment priorities The new plan allocates EGP 1.158 trillion in public investment — up from about EGP 1 trillion in FY2024/25 — with a focus on human development sectors such as health, education, and public services, which will receive EGP 327 billion or 28 percent of the total. Of this, EGP 219 billion will come directly from the state budget. Sectoral allocations include: EGP 85.6 billion for health EGP 63.4 billion for education EGP 178 billion for other social services Rural development and Decent Life initiative The government reaffirmed its support for the Haya Karima (Decent Life) programme, which targets rural development. Phase one has received EGP 350 billion to serve 18 million people in 1,477 villages across 20 governorates. Phase two includes EGP 25 billion for water, sewage, and utilities infrastructure and EGP 20 billion for expanding universal health insurance. State ownership and public sector reform The budget also reflects the government's ongoing push to reduce its footprint in economic activities. A new State Ownership Policy Law, approved by parliament, aims to increase private sector participation — part of a broader reform agenda endorsed by the Supreme Council for Investment. A review is underway to restructure 59 economic authorities, with assessments to determine whether entities should be merged, dissolved, or reclassified. A high-level committee with technical support oversees the process. Governance and investment efficiency Al-Mashat said the government would continue to cap public investment to support macroeconomic stability and encourage foreign investment. Efforts include training public bodies to manage investment data through a centralized digital platform covering 270 state-owned companies. The government has also expanded the Adaa performance evaluation system, which now tracks 4,000 performance indicators across 36 ministries and public bodies. The system allows for quarterly evaluations aligned with sustainable development and fiscal goals. Land compensation and economic data Funding for land compensation related to national projects has increased to EGP 16 billion for FY2024/25 and FY2025/26 — up from EGP 12.35 billion in the previous year. Over EGP 3.4 billion of these funds will serve projects in Giza. Egypt plans to launch a new economic census via the Central Agency for Public Mobilization and Statistics (CAPMAS) to improve policymaking and better understand the informal economy. The census will map economic activity and the contribution of unregistered enterprises. Follow us on: Facebook Instagram Whatsapp Short link:
Middle East
19-04-2025
- Business
- Middle East
OPEN// PM inspects TEBA for Developed Industries in 10th of Ramadan
10th of RAMADAN CITY, Egypt, April 19 (MENA) – Prime Minister Mostafa Madbouli visited the TEBA for Developed Industries complex in the 10th of Ramadan City, which includes three factories specialized in advanced electrical manufacturing. He was accompanied by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Wazir, Head of the Industrial Development Authority Nahed Youssef, and other senior officials. TEBA's Chairman, Ahmed Suleiman, said that the company provides modern electricity distribution solutions and manufactures a range of products usingh more than 70% ade of local components. The company employs over 500 workers and has invested around EGP 2 billion across facilities covering 10 square kilometers. The company produces switch disconnectors, fixed and mobile generators up to 3 MW, electrical kiosks, ring main units, LED lighting, and electrical panels, with over 70% local content. Many products are supplied to national initiatives, including 'Haya Karima.' TEBA spans more than 10 km², with investments reaching EGP 2 billion and over 500 employees. It partners with Schneider Electric for panel production and provides worker housing for non-resident staff. Madbouli toured the company's production departments and spoke with workers about their experience, training, and working conditions. (MENA) H A T/M N E
Egypt Today
17-03-2025
- General
- Egypt Today
Haya Karima organizes ‘Happiness Caravans', hosts 300 Palestinian families for Iftar
CAIRO – 17 March 2025: For the second year in a row, Haya Karima Foundation organized the Happiness Caravans, which included several workshops and events, in addition to a group iftar for more than 300 Palestinian families living in Cairo. The event is organized in cooperation with a number of partner organizations under the umbrella of the National Alliance for Civil Development work, according to Haya Karima. The event was hosted at the Gezira Youth Center in 6th of October City and included storytelling workshops for children, sports activities, crafts workshops, and awareness sessions for mothers, organized in cooperation with the Ministry of Culture, the Ministry of Youth and Sports, and the Anti-Addiction Fund. The event also included a group iftar, gift distribution for children, and entertainment performances. Hayat Karima Foundation has sent more than 650 tons of humanitarian aid to the Gaza Strip at a cost exceeding LE 750 million since the beginning of the crisis. Buthaina Mustafa, vice chair of the Board of Trustees of the Haya Karima Foundation and its official spokesperson, stated that Haya Karima continues to support Palestinian recovery, whether through relief aid to the Gaza Strip or through awareness and social activities in Egypt, all implemented in cooperation with partner organizations to instill values of solidarity and promote social justice.
