Planning and Economic Development Minister Hala El Saeed revealed the government is preparing a new stimulus package that will be similar to the EGP 30 bn approved during the 2008/2009 financial crisis, Invest-Gate reports.
El Saeed affirmed that the world is currently facing a global crisis due to the coronavirus disease (COVID-19) and everyone must join hands to face it, noting that attention must be paid to the repercussions of that crisis, while finding mechanisms to properly deal with it, according to a statement released on March 19.
El Saeed also approved on the same date to raise advanced medical supplies allocations in the Health Ministry’s budget for current FY 2019/2020.
The new allocations total EGP 200 mn, aiming to manage the first phase of providing medical machines needs for countering COVID-19) under the state’s inclusive plane to contain disease outbreak.
Earlier in March, El-Saeed said that the government directed investments amounting to EGP 944 mn to implement 202 projects in FY 2019/20.
