The government’s economic bodies received long-term loans worth of LE78.2 billion in 2013/2014, up by 13.4 percent from LE68.9 billion in 2012/2013, according to a government report released on Tuesday.
The increase is attributed to the expansion in the transportation, communications, industry, petroleum, mining and agriculture sectors, according to the Central Agency for Public Mobilization and Statistics (CAPMAS), which issued its “Annual statistics and finance indicators of the economic bodies bulletin 2013/2014”.
The value of financial investments reached LE462.6 billion in 2013/2014 compared to LE460.3 billion in 2012/2013, a surge of 5 percent.
Working capital moved up 28 percent to LE532 billion in 2013/2014 versus LE415.7 billion in 2012/2013, according to the report.
“The value of net invested capital reached LE830.3 billion in 2013/2014 versus LE690 billion in 2012/2013, the increasing rate is 20.3 perent,” said the report, which attributed the rise to an increase in invested capital by the transportation. communications, housing, construction and social insurance sectors.
There are 50 economic bodies in the Egyptian government, some of them have a separate budget from the state's. They are task with providing basic services and commodities to citizens as well as providing consultancy for projects.
Edited translation from Al-Masry Al-Youm
