Madbouly reveals new growth targets for coming 3 years, shares import and export projections

Cairo – January 29, 2025: Prime Minister Mostafa Madbouly outlined Egypt’s ambitious economic targets for the next three years during a meeting with specialized advisory committees on Tuesday, setting a goal for a growth rate of at least 5.5 percent.

This goal contrasts with international institutions’ forecasts, which predict growth ranging from 4 percent to 4.5 percent. Despite these external projections, Madbouly expressed strong confidence in the government's ability to drive higher growth through ongoing reforms.

A key part of the discussions during the meeting was the newly established advisory committees, including one focused on macroeconomics. The committee, composed of top experts, will address vital issues such as stimulating economic growth, managing inflation, and tackling public debt.

According to a statement from the Cabinet released on Tuesday, the Prime Minister also set out important long-term economic targets, including projections for imports and exports.

By 2030, Egypt’s imports are expected to total $105 billion, while exports are forecasted to reach $115.8 billion.

The government plans to accelerate economic growth while addressing critical challenges, including reducing inflation and managing both internal and external debt ratios.

Madbouly also highlighted the urgency of reducing Egypt’s debt ratio, noting that high interest rates currently allocate over 43 percent of the national budget to debt servicing.

Another key aspect of the discussions centered on Egypt's digital economy, which has already reached a value of LE 276 billion (approx. $5.49 billion).

Madbouly emphasized his ongoing efforts to stay informed about discussions surrounding Egypt's economy, stating, “I diligently monitor all media and social media discussions about the Egyptian economy, and I hope we can implement all proposed visions and initiatives moving forward.”

He acknowledged the economic hardships faced by Egyptian citizens over the past five years, noting the government's commitment to addressing these challenges through continued collaboration with the private sector to improve future conditions.

Touching on Egypt’s inflation rate, which has begun to decline for the first time in two years, Madbouly noted that the government aims to bring inflation down to single digits by 2026, although he recognized that achieving this goal would require significant effort and cooperation. He reiterated the need for collective action to stabilize the economy and meet the nation's economic targets.