New capital: Prime Minister Moustafa Madbouly chaired a meeting of the Economic Ministerial Group at the government headquarters in the New Capital to review a number of priority economic issues and developments.
According to State Information Service Egypt, the meeting was attended by key officials including Deputy Prime Minister for Economic Affairs Hussein Eissa, Central Bank of Egypt Governor Hassan Abdullah, and several ministers and chairpersons from various economic sectors. The group reviewed the latest developments in Egypt's economic reform program, which is being implemented in cooperation with the International Monetary Fund, as well as progress related to the program's seventh review.
During the meeting, officials noted that all quantitative performance criteria for March 2026 had been met. These criteria include targets related to the primary budget surplus, tax revenues, and proceeds from state asset offerings transferred to the budget. Additionally, spending on social protection programs and healthcare and the completion of several privatization transactions were discussed, with a focus on the recent Gabal El-Zeit deal signed with Alcazar Energy.
Finance Minister Ahmed Kouchouk presented a package of structural and legislative reforms currently being finalized. Meanwhile, Investment and Foreign Trade Minister Mohamed Farid provided an update on the Economic Entities Platform. This platform is part of the government's digital transformation initiatives aimed at modernizing investment services and improving the business environment.
Farid explained that the platform is designed as an integrated digital system that unifies investment services through a central portal. It links government entities and offers investors a seamless digital experience supported by advanced technological infrastructure and institutional governance mechanisms. The platform is intended to serve as a single gateway for investors, initially integrating services offered by the General Authority for Investment and the Commercial Registry, with the flexibility to include additional government entities.
In addition to the Economic Entities Platform, the minister reviewed other digital transformation projects. These include a platform for collecting and analyzing corporate financial statements, a system for handling investor complaints, a free zones platform, the digital platform of the Export Development Fund, and a renewable energy project registration platform.
Planning and Economic Development Minister Ahmed Rostom presented a report on inflation and commodity prices for May 2026. The report indicated that annual inflation declined to 13 percent, signaling a slowdown in inflationary pressures. It showed that monthly inflation eased to 1.2 percent in April and 1.4 percent in May, compared with a peak of 3.3 percent in March 2026. Despite ongoing structural factors linked to production costs and global economic developments, there was a shift toward more moderate price growth.
The report also highlighted relative stability in the prices of strategic commodities, such as red meat, edible oils, and certain agricultural products, while prices of eggs and fish recorded declines.
At the conclusion of discussions, the Economic Ministerial Group approved the updated State Ownership Policy Document after incorporating feedback from relevant national entities. Officials confirmed that necessary procedures are being finalized ahead of its official launch before the end of June.
The meeting also reviewed a report from the Central Bank's Economic Research Sector on preliminary balance-of-payments indicators for July 2025 to March 2026. The report showed a 14.9 percent increase in tourism revenues, reaching approximately $14.4 billion, with European markets accounting for about 69.2 percent of total tourist arrivals. Remittances from Egyptians working abroad rose by 32 percent to approximately $34.9 billion, driven by increased inflows from various countries.