Egypt real GDP growth projected to reach 4% in FY24/25, 4.5% in FY25/26: Minister Al-Mashat - Economy
Egypt's real GDP growth is projected to reach four percent by the end of FY2024/2025, which ends in June, and to reach 4.5 percent in FY2025/2026, which starts in July, Minister of Planning, Economic Development and International Cooperation (MOPEDIC) Rania Al-Mashat said on Tuesday.
Al-Mashat made her comments during a CNN interview with renowned journalist Richard Quest.
The interview highlights Egypt's ongoing economic reforms and growth strategies amid global uncertainty and protectionist trade policies.
She noted that the Egyptian economy has become more stable and predictable, positioning itself as a competitive regional export hub for Europe.
"We have a vision to shift from non-tradable sectors to tradable sectors, enhancing the global competitiveness of Egyptian products,' she stated.
This outlook is underpinned by the government's commitment to structural reforms ensuring sustainable economic stability, Al-Mashat explained.
She pointed out that regional integration is a cornerstone for growth and investment, and establishing joint economic committees with countries like Jordan and Iraq fostered economic cooperation. Strategic initiatives, such as the electricity interconnection project between Egypt and Saudi Arabia, are also pivotal in integrating energy networks across the Gulf region.
Al-Mashat said that Egypt's robust industrial base, which includes essential products such as cement, steel, plastics, and processed foods, supports value chains and bolsters the country's export capabilities.
The minister reaffirmed the government's dedication to fostering private-sector-led development through continuous structural reforms to create an attractive environment for local and international investments, ensuring that Egypt remains on a path toward sustainable economic growth.
Egypt currently engages in an Extended Fund Facility (EFF) loan programme with the International Monetary Fund (IMF) worth $8 billion, which supports the second wave of structural and economic reforms till September 2026.
The IMF's Executive Board scheduled the fourth review of Egypt's EFF programme for Monday 10 March.
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