Latest news with #NationalStructuralReformProgram
Egypt Independent
6 days ago
- Business
- Egypt Independent
PM chairs meeting of Coordinating Council for Fiscal and Monetary Policies
NEW ALAMEIN, Egypt, July 31 (MENA) – The Coordinating Council for Fiscal and Monetary Policies, chaired by Prime Minister Mostafa Madbouly, affirmed during its meeting on Thursday the continuation of a flexible exchange rate system, as well as the implementation of the government's initial public offerings (IPOs) program and the State Ownership Policy Document with a view to generating additional resources to reduce public debt while maintaining competitive market conditions through the Egyptian Competition Authority. Held at the government headquarters in New Alamein City in Egypt's North Coast, the meeting was attended by Governor of the Central Bank of Egypt (CBE) Hassan Abdullah, Minister of Planning, Economic Development and International Cooperation Rania al-Mashat, Minister of Finance Ahmed Kouchouk, Minister of Investment and Foreign Trade Hassan al-Khatib, economic experts, deputy ministers and senior officials. The meeting highlighted the government's successful progress in paying the petroleum sector's dues to foreign partners according to the set schedule, Cabinet spokesman Mohamed El Homsany said. The meeting also reviewed the key policies and measures taken under the National Structural Reform Program, which is Egypt's main tool for turning economic goals into action, the spokesman added. The program focuses on enhancing macroeconomic stability, boosting economic competitiveness, improving the business climate and supporting green transition, he noted. The council also reviewed Egypt's participation in the UN's Fourth International Conference on Financing for Development (FfD4) in Spain's Seville city, where Egypt called for enabling private sector participation, increasing foreign investments in developing countries, improving governance in international financial institutions, expanding Special Drawing Rights (SDRs) allocations for developing nations, strengthening the UN's economic role globally, and updating debt sustainability assessment frameworks, the spokesman said. Egypt had also called during the FfD4 for promoting South-South and trilateral cooperation, defining global public goods, and using innovative financing tools to support small- and medium-sized enterprises (SMEs) and entrepreneurship, according to him. (MENA)
Middle East
6 days ago
- Business
- Middle East
OPEN// PM chairs meeting of Coordinating Council for Fiscal and Monetary Policies
NEW ALAMEIN, Egypt, July 31 (MENA) - The Coordinating Council for Fiscal and Monetary Policies, chaired by Prime Minister Mostafa Madbouly, affirmed during its meeting on Thursday the continuation of a flexible exchange rate system, as well as the implementation of the government's initial public offerings (IPOs) program and the State Ownership Policy Document with a view to generating additional resources to reduce public debt while maintaining competitive market conditions through the Egyptian Competition Authority. Held at the government headquarters in New Alamein City in Egypt's North Coast, the meeting was attended by Governor of the Central Bank of Egypt (CBE) Hassan Abdullah, Minister of Planning, Economic Development and International Cooperation Rania el Mashat, Minister of Finance Ahmed Kouchouk, Minister of Investment and Foreign Trade Hassan el Khatib, economic experts, deputy ministers and senior officials. The meeting highlighted the government's successful progress in paying the petroleum sector's dues to foreign partners according to the set schedule, Cabinet spokesman Mohamed El Homsany said. The meeting also reviewed the key policies and measures taken under the National Structural Reform Program, which is Egypt's main tool for turning economic goals into action, the spokesman added. The program focuses on enhancing macroeconomic stability, boosting economic competitiveness, improving the business climate and supporting green transition, he noted. The council also reviewed Egypt's participation in the UN's Fourth International Conference on Financing for Development (FfD4) in Spain's Seville city, where Egypt called for enabling private sector participation, increasing foreign investments in developing countries, improving governance in international financial institutions, expanding Special Drawing Rights (SDRs) allocations for developing nations, strengthening the UN's economic role globally, and updating debt sustainability assessment frameworks, the spokesman said. Egypt had also called during the FfD4 for promoting South-South and trilateral cooperation, defining global public goods, and using innovative financing tools to support small- and medium-sized enterprises (SMEs) and entrepreneurship, according to him. (MENA) I S N/R E E
Zawya
01-07-2025
- Business
- Zawya
Egypt's real GDP rises to 4.77% in Q3 FY2024/25
Arab Finance: Egypt's real gross domestic product (GDP) growth increased to 4.77% in the third quarter (Q3) of fiscal year (FY) 2024/2025, according to an official statement by the Ministry of Planning, Economic Development, and International Cooperation. This GDP marks the highest quarterly rate in three years, higher than 2.2% in the same quarter last FY. The average growth reached 4.2% in the first nine months of FY 2024/2025, compared to 2.4% during the same period in FY 2023/2024. Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat stated the higher-than-expected GDP growth was backed by strong performance in key sectors, mainly non-oil manufacturing, tourism, and telecommunications. This growth reflects the tangible impact of Egypt's macroeconomic policies and structural reform agenda, Al-Mashat noted. The strong performance shows a sustained recovery and growing resilience of the economy amid global uncertainties. It also comes due to the continued structural reforms implemented under the National Structural Reform Program to maintain macroeconomic stability, enhance the governance of public investment, and expand private sector participation. Meanwhile, preliminary data suggest that Egypt's real GDP growth in FY 2024/25 will exceed the initial target of 4%. This is supported by a rebound in private investments, an improvement in non-oil manufacturing activity, and strong GDP performance over the first nine months of the FY. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
30-06-2025
- Business
- Zawya
Egypt's GDP growth rate accelerates to 3-year high
Egypt's real gross domestic product (GDP) growth accelerated to 4.77% in the third quarter (Q3) of fiscal year (FY) 2024/2025, up from 2.2% in Q3 of FY23/24. Minister of Planning, Economic Development, and International Cooperation Rania El-Mashat highlighted that the growth rate is the highest quarterly rate in three years. This pushed average growth for the first nine months (9M) of FY 24/25 to 4.2%, compared to 2.4% during the same period in the previous FY. El-Mashat attributed the robust performance to the continued implementation of the reform agenda in line with the National Structural Reform Program. The initiative aims at maintaining macroeconomic stability, enhancing the governance of public investment, promoting economic competitiveness, and boosting private sector participation. Additionally, private investment increased by 24.2% year-on-year (YoY) in Q3 of FY24/25, exceeding public investment for the third consecutive quarter and accounting for 62.8% of total implemented investments (excluding inventory). Non-oil manufacturing sector witnessed positive growth for the fourth consecutive quarter, hitting 16% during Q3 of FY24/25, marking a rebound from the contraction of around 4% recorded in the same period of the previous fiscal year. On the other hand, the Suez Canal's business fell by 23.1%, compared to a sharper contraction of 51.6% in Q3 of FY23/24, which marked the onset of reduced vessel traffic due to escalating geopolitical tensions. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
See - Sada Elbalad
14-06-2025
- Business
- See - Sada Elbalad
International Cooperation Ministry Holds 'Development Finance to Foster Private Sector-Led Growth & Jobs' High-Level Event Tomorrow
Nada Mustafa The Ministry of Planning, Economic Development and International Cooperation will hold the "Development Finance to Foster Private Sector-Led Growth & Jobs" conference tomorrow, Sunday, in the New Administrative Capital. The event is under the patronage of the Prime Minister, H.E. Dr. Mostafa Madbouly, and features the participation of a large number of ministers, development partners, the European Union in Egypt, international institutions, and private sector companies. The conference will highlight development finance efforts undertaken over the past five years to empower the private sector and promote its role in economic growth and job creation. Mechanisms for financing and new agreements in partnership with development partners to finance the private sector in Egypt will also be announced. In addition, a number of new project agreements will be signed between the private sector and development partners, and the expansion of the Hub for Advisory Finance and Investment for Enterprises. H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, emphasized that the conference sheds light on development finance, which remains one of the most vital tools due to its diversity in direct and indirect investments, risk mitigation tools, investment guarantees, and technical support, thus playing a catalytic role for private sector investments. H.E. Minister Al-Mashat added that over the past five years, the Ministry of Planning, Economic Development and International Cooperation has established a framework for economic diplomacy to advance and develop economic relations with multilateral and bilateral development partners. This has contributed to increasing financing directed towards the private sector. She affirmed that the state's continued implementation of the National Structural Reform Program and the adoption of measures to improve and prepare the business environment will open up more opportunities for the private sector to contribute to economic growth and employment. It also enhances its attractiveness to international financing institutions that provide development financing and both direct and indirect investments to bridge the development financing gap. The sessions will explore ways to empower the private sector through an integrated system that includes improving the business environment, supporting competitiveness, as well as developing its institutional capabilities. Additionally, they will touch on facilitating access to various financing tools, whether in the form of development finance, equity partnerships, and technical support tailored to the needs of each sector. 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 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
