Cairo: Prime Minister Moustafa Madbouly has reiterated the government's commitment to continuing the implementation of its national economic reform program, emphasizing a balance between macroeconomic stability and bolstering social protection. This approach aims to elevate citizens' living standards and fortify the Egyptian economy against regional and global challenges, as well as the adverse effects of escalating regional events.
According to State Information Service Egypt, Madbouly delivered his remarks while leading a meeting of the Ministerial Economic Group at the government headquarters in the New Capital. The meeting aimed to address several priority economic issues currently facing the country. Key attendees included Governor of the Central Bank of Egypt (CBE) Hassan Abdullah, Minister of Finance Ahmed Kouchouk, Minister of Supply and Internal Trade Sherif Farouq, Minister of Investment and Foreign Trade Mohamed Farid Saleh, and Minister of Industry Khaled Hashem, among others.
Madbouly highlighted the government's focus on achieving sustainable, private sector-led growth through the State Ownership Policy Document. Efforts are underway to accelerate the IPO and asset-offering program and improve the business environment to attract more domestic and foreign investments, which is expected to boost growth, employment, and the Egyptian economy's competitiveness.
The meeting reviewed various issues, including the performance of the balance of payments for the fiscal year 2025/2026, developments in Sustainable Investment Facilitation Agreements with the European Union, and updates on the economic reform program in collaboration with the International Monetary Fund (IMF).
A report on the balance of payments from July to March of fiscal year 2025/2026 was discussed, revealing an improvement with the deficit reducing to approximately $1.8 billion from $1.9 billion in the previous fiscal year. The report also noted increased remittances from Egyptians abroad and a significant rise in foreign direct investment inflows, which bolstered foreign-currency resources and helped narrow the balance-of-payments deficit. Additionally, higher tourism revenues and increased merchandise exports contributed to the positive balance-of-payments performance.
Discussions also focused on the Sustainable Investment Facilitation Agreement with the European Union, which aims to establish a transparent and efficient global investment framework, promote foreign investment flows, and simplify administrative procedures. The agreement seeks to enhance transparency and institutional cooperation, providing investors with greater confidence in the Egyptian investment environment.
Minister of Investment and Foreign Trade Mohamed Farid Saleh explained that Egypt's accession to the Investment Facilitation Agreement, approved in October 2025, was designed to boost international investor confidence by ensuring transparency, simplifying administrative procedures, and improving institutional cooperation.
The meeting also addressed proposals for multilateral and bilateral investment facilitation agreements and reviewed the ongoing economic reform program implemented in partnership with the IMF. It was reaffirmed that Egypt continues to pursue its reform program to enhance financial stability and improve the investment environment, while promoting private sector expansion.
In response to regional events and their impact on global trade, the meeting stressed the importance of continued coordination among ministries and relevant authorities to maintain market stability and secure strategic stocks of essential commodities.