Egypt aims to achieve 5-6% GDP growth in FY 2024/25, 2.1% primary surplus in FY 2023/24: PM



Mon, 30 Jan 2023 - 11:38 GMT


Mon, 30 Jan 2023 - 11:38 GMT

CAIRO – 30 January 2023: Egypt aims to achieve a growth in GDP worth 5-6 percent in the fiscal year 2024-2025 and a 2.1 percent in primary surplus in the FY 2023-2024, Prime Minister Mostafa Madbouli said on Monday.

Madbouli made the remarks at the opening of the 7th Annual MENA Investor Conference 2023 held in the presence of a group of top investors, international investment institutions and banks, and a large number of local investors.

Egypt also plans to lower its debt to GDP ratio to 78 percent by the 2026-2027 fiscal year, highlighting the importance of debt management, Madbouli said.

He added that the government will achieve these goals through the new economic reform program backed by the International Monetary Fund.

The premier said the government is committed to all policies of the reform program.

He said the government seeks to expand social safety networks and structural reforms, stressing that the government is moving swiftly to deal with all challenges.

Madbouli stressed that Egypt seeks to realize positive economic outlook during 2023.

He added that the meeting comes at a time when partnerships can achieve resilience in the face of economic pressures and challenges and pave the ground for economic recovery.

He thanked all partners of investors and CEOs who participate in the conference to explore on investment opportunities.

The premier said the conference underlines the importance of multi-lateral participation of both private and public sectors to open new vistas of investment.

He expounded that the world is facing extraordinary challenges and efforts are underway to address these challenges and create an investment-attractive climate.

He said the world now has an appetite for promising stories of success.

MENA contributed to the reporting.



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