Cairo: Prime Minister Mostafa Madbouli said that Egypt’s economy is on the right track, recording 4.3% growth in the second quarter of the current fiscal year.

According to State Information Service Egypt, Madbouli indicated that if external pressures are eased, Egypt will see a leap in performance across sectors. During a press conference following the weekly Cabinet meeting, he reassured Egyptians that the country’s economic position is strong.

Madbouli highlighted the lowest unemployment rate in 20 years at 6.4%, with youth unemployment at 14.2%, down from 26.5% a decade ago. He noted that inflation has slowed, reserves remain stable, and bank assets are improving. The premier stated that all sectors experienced growth in the last quarter, except for the Suez Canal and oil extraction, which the government plans to recover soon.

He expressed optimism that if global conditions stabilize, growth could reach 6%. Furthermore, Madbouli emphasized an agreement with the International Finance Corporation to assist in managing Egypt’s airports. He stressed that the state is not selling assets but is collaborating with global operators to enhance efficiency and boost tourism.