London: During the European Bank for Reconstruction and Development (EBRD) Annual Meetings in the United Kingdom, Rania Al-Mashat, Egypt's Minister of Planning, Economic Development, and International Cooperation and the country's Governor at the EBRD, underscored the positive economic growth forecasts as evidence of the success of Egypt's ongoing economic and structural reforms.
According to State Information Service Egypt, the EBRD's latest report projects Egypt's GDP growth to reach 3.8 percent by the end of the current fiscal year and 4.4 percent in fiscal year 2025/2026. On a calendar year basis, growth is expected to be 4.0 percent in 2025 and 4.5 percent in 2026. The report highlights strong expansion in key sectors such as manufacturing, transportation, and wholesale and retail trade, which helped drive growth up to 3.9 percent year-on-year in the first half of fiscal year 2025 (July-December 2024), compared to 2.4 percent the previous year.
Al-Mashat emphasized that this positive outlook reflects the effectiveness of Egypt's reform policies despite global economic challenges. The government's efforts have led to a marked improvement in growth rates, with GDP rising from 3.5 percent to 4.3 percent during the first two quarters of the current fiscal year. Growth is expected to maintain around 4 percent for the rest of the year.
The Minister highlighted the government's dedication to strengthening macroeconomic stability and fiscal consolidation, alongside ongoing implementation of the National Structural Reform Program. This program aims to support sustainable growth by improving the investment climate, encouraging private sector participation, and focusing on growth in tradable and export-oriented industries.
In conclusion, Al-Mashat pointed to the government's strategic focus on export-driven growth, emphasizing measures to boost investment, promote industrial localization, streamline investment procedures, and shorten customs clearance times. These efforts aim to achieve inclusive, sustainable economic development that generates jobs and improves living standards.