Egypt allocates $2.1B for scientific research in FY 2015/2016
Minister of Planning Ashraf al-Araby - YOUM7/Sami Waheeb

CAIRO: Egypt’s investment plan for the next FY 2015/2016 will witness a hike in investment allocations for education, health and scientific research to reach 16 billion EGP ($2.1 billion,) said Minister of Planning Ashraf al-Araby Wednesday.

Moreover, 26 billion EGP ($3.41 billion) will be allocated for agriculture and urban development, Araby said in press conference to announce the government’s plan for fiscal year 2015/2016.

Araby added that for the first time, investment funds for the Ministry of Culture will be doubled to reach 600 million EGP ($78.66 million).

The 2014 Egyptian constitution stipulates that 10 percent of the total budget shall be allocated to education, health and scientific research.

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