H.E. Dr. Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation, met with the International Monetary Fund (IMF) Mission in Cairo to present updates on economic and structural reforms under “Egypt’s Narrative for Economic Development”. The meeting highlighted progress toward economic development goals, latest GDP growth figures, and government initiatives to empower the private sector while improving public investment governance.
For more details on Egypt’s National Economic Development Policies, visit SIS Egypt.
Progress in economic growth and structural reforms
For the first time, the Ministry’s “Quarterly GDP Note” included details of structural reforms, reflecting tangible improvements in the economy and promoting transparency and good governance. Dr. Al-Mashat reported a GDP growth rate of 5.3% in the first quarter of the current fiscal year, exceeding expectations. Key drivers included industrial production and rising performance in sectors such as vehicles, textiles, and ready-made garments, demonstrating Egypt’s shift toward high-productivity and export-oriented industries.
The government’s growth targets and reform agenda are explained further in Ahram Online.
Egypt’s Narrative for Economic Development
“Egypt’s Narrative for Economic Development” serves as a comprehensive framework linking Vision 2030 with the Government Program. It transforms sectoral strategies into clear indicators and targets, promoting smart growth economic development and enhancing production and export-led growth.
Dr. Al-Mashat projected that, with ongoing economic and structural reforms, Egypt’s economy could achieve at least 5% growth by the end of the fiscal year. She also presented the Public Investment Governance Report, highlighting its role in macroeconomic stability and efficient allocation of resources, noting that last year’s commitment to an EGP 1 trillion investment ceiling enabled greater private-sector participation. Learn more about Egypt’s ambitious 7% growth target by 2030 in Daily News Egypt.
Empowering the private sector and state-owned enterprises
The State Ownership Policy Document and the establishment of the State-Owned Enterprises Unit aim to maximize the efficiency and productivity of state-owned companies. The unit has clear authority to implement optimal scenarios for these companies, enhancing overall economic resilience.
Dr. Al-Mashat also highlighted the programs-and-performance methodology through the “Adaa” System, strengthening monitoring, evaluation, and periodic review of national, sectoral, and spatial policies. This ensures that public funds are efficiently linked to measurable results, reflecting the effectiveness of Egypt’s development plans.
Sustainability and renewable energy initiatives
The Ministry continues to integrate environmental and climate considerations into investment planning. Two new projects were added to the “NWFE” Program to support renewable energy transition. Climate-responsive public investment reforms now assess potential climate risks to assets and prioritize green projects, further aligning with egypt economic growth plan and broader economic development goals.
Dr. Al-Mashat reaffirmed the government’s commitment to ongoing reforms designed to boost growth, strengthen economic resilience, create jobs, and achieve sustainable development.
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This story was first reported by Africa Newsroom. Read the full article here.
