Al-Mashat: EBRD Forecast Reflects Confidence in Egypt's Reform Agenda
The European Bank for Reconstruction and Development (EBRD) has projected continued positive growth for Egypt's economy, according to its latest Regional Economic Prospects report released during the Bank's annual meetings held in the United Kingdom. The forecast reflects optimism regarding Egypt's economic outlook, driven by recovery in non-oil sectors and the ongoing implementation of structural reforms.
Egypt's Minister of Planning, Economic Development, and International Cooperation, Dr. Rania Al-Mashat, who also serves as Egypt's Governor at the EBRD, participated in the meetings and welcomed the report's findings. The EBRD expects Egypt's economy to grow to 3.8% by the end of FY 2024/25, and to 4.4% in FY 2025/26, with growth supported by improved performance in manufacturing, transportation, and trade. On a calendar-year basis, growth is projected to reach 4% in 2025 and 4.5% in 2026.
The report noted that Egypt saw year-on-year growth of 3.9% in the first half of FY 2024/25, a notable increase from 2.4% in the same period last year, as foreign exchange shortages eased after March 2024. While the oil and gas sector showed a decline, the government is actively addressing challenges by settling arrears to international energy firms.
The EBRD emphasized that Egypt's economic outlook remains closely tied to the pace and consistency of structural reforms—particularly those reducing the state's footprint in the economy and lowering public debt and debt service costs. However, it also cautioned that global uncertainties, including shifting trade policies, still pose external risks.
Dr. Al-Mashat commented that the positive projections validate Egypt's reform trajectory. She highlighted that Egypt's GDP growth rose from 3.5% to 4.3% between the first and second quarters of the current fiscal year, with expectations to reach 4% by the end of the year. She reaffirmed the government's commitment to macroeconomic stability, fiscal discipline, and expanding the National Structural Reform Program, which focuses on enhancing the investment climate and enabling greater private sector participation—particularly in export-oriented sectors.
The report also showed signs of macroeconomic stabilization, with inflation falling to 12.8% in February 2025, its lowest level since March 2022. The Central Bank's monetary tightening is expected to further ease inflationary pressures in the coming period.
read more
Gold prices rise, 21 Karat at EGP 3685
NATO's Role in Israeli-Palestinian Conflict
US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria
Shoukry Meets Director-General of FAO
Lavrov: confrontation bet. nuclear powers must be avoided
News
Iran Summons French Ambassador over Foreign Minister Remarks
News
Aboul Gheit Condemns Israeli Escalation in West Bank
News
Greek PM: Athens Plays Key Role in Improving Energy Security in Region
News
One Person Injured in Explosion at Ukrainian Embassy in Madrid
News
Egypt confirms denial of airspace access to US B-52 bombers
Lifestyle
Pistachio and Raspberry Cheesecake Domes Recipe
News
Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia
News
Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content
Arts & Culture
Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Sports
Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers
News
Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies
Arts & Culture
New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Business
Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
42 minutes ago
- See - Sada Elbalad
Legal Reforms and Refinery Projects to Support Egypt's Transformation into a Regional Hub for Gold Industry and Trade
Waleed Farouk Gold market expert Saeed Embabi said that Egypt's drive to localize investment in gold-backed funds will provide individual and institutional investors with a regulated and transparent financial instrument, enabling them to benefit from gold price movements without the need for physical possession of the metal. This, he noted, would expand the investor base and deepen market liquidity. He added that amending laws to encourage such funds would strengthen market confidence and attract new capital, both domestic and foreign. Embabi also stated that establishing gold refineries represents a qualitative leap in the industry's infrastructure, allowing Egypt to control production quality and reduce reliance on foreign facilities for refining. Moreover, these refineries could offer services to regional markets, positioning the country as a regional center for gold trade and manufacturing. He highlighted that this step is also important for supporting the non-oil economy and diversifying sources of income, in addition to creating direct and indirect job opportunities in mining, refining, marketing, and logistics. It would also enhance Egypt's ability to leverage its geographic location as a gateway for trade between Africa and the Middle East. During the weekly cabinet meeting, Prime Minister Dr. Mostafa Madbouly confirmed that the government is moving toward localizing investment in gold-backed funds in the coming period by introducing amendments to certain regulatory laws, aiming to boost this type of investment amid growing public interest in gold as a hedging and investment tool. Madbouly also pointed out that Egypt is working on establishing multiple gold refineries to meet domestic market needs and provide services to foreign markets, reinforcing the country's position as a regional hub for the gold industry and trade. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated
See - Sada Elbalad
3 hours ago
- See - Sada Elbalad
Russia Says Upcoming Putin–Trump Summit an Opportunity to Discuss Ukraine, Bilateral Relations
Ahmed Emam The Russian Foreign Ministry announced on Wednesday that the anticipated summit between President Vladimir Putin and U.S. President Donald Trump will provide an opportunity to address a wide range of issues, including the crisis in Ukraine and the overall state of bilateral dialogue. In a statement, the ministry emphasized that the meeting — whose date and venue have yet to be officially confirmed — could serve as a platform for both leaders to engage in "comprehensive discussions" aimed at easing tensions and exploring areas of mutual interest. "From our perspective, the summit will be a chance to raise all matters on the agenda, from regional conflicts to strategic stability, with the Ukrainian crisis and the state of Russia–U.S. relations being central topics," the ministry noted. The announcement comes amid ongoing strains between Moscow and Washington over a host of geopolitical disputes, including sanctions, military deployments in Eastern Europe, and competing positions on global security issues. While no official agenda has been released, analysts suggest the meeting could mark a rare opening for direct dialogue between the two powers at the highest level, potentially influencing the trajectory of U.S.–Russia relations in the coming months. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani
CairoScene
13 hours ago
- CairoScene
AD: Ladurée Arabia Launches New Savoury Menu Across Saudi Locations
From truffled burgers to caviar-topped blinis, Ladurée Arabia's new savoury menu adds a seasonal, all-day dining experience across its locations in Riyadh and Jeddah. Ladurée Arabia, the French patisserie known globally for its pastel-coloured macarons, is expanding its culinary offering in Saudi Arabia with the launch of an all-new savoury menu. Now available across all Ladurée Arabia branches in the Kingdom, the new additions bring a refined touch to breakfast, lunch, and dinner service. The breakfast section balances French technique with regional flair. Guests can choose from Eggs Florentine with Cheddar béchamel and smoked paprika, a citrus-topped Omelette Royale with salmon roe and dill, or a Middle Eastern Omelette layered with garlicky yogurt and chilli sauce. For starters, the menu leans fresh and indulgent in equal measure. Shrimp Rolls 'Terre et Mer' feature sesame-spiced beef and shrimp wrapped in crisp filo pastry, while the Crab Salad blends grapefruit, avocado, and coriander. The Cucumber Avocado Gazpacho offers a cooling, herbaceous option, and blinis arrive topped with smoked salmon or Oscietra caviar. Signature mains include a lobster roll with lemon confit and lemongrass, a gourmet burger made with confit beef cheeks and truffle mayo, and two takes on the classic Croque Monsieur: traditional with Emmental cheese, or vegetarian with tomato pesto. Ladurée's signature dessert flair is reinterpreted through its new milkshake collection - rose, vanilla, pistachio and chocolate - topped with Chantilly cream and macaron shells. Guests can also enjoy new plated desserts like pistachio crème brûlée or a fragrant brioche-based Um Ali with orange blossom. The new savoury menu is now served across all Ladurée Arabia locations in the Kingdom, namely Laysen Valley (Riyadh), Riyadh Park (Riyadh), Solitaire Mall (Riyadh), Roshn Front (Riyadh), Kingdom Mall (Riyadh) and Fayfa (Jeddah).
