Economic Growth
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.
Fitch Solutions also points to improvements in private consumption, which is expected to grow by 4.8% in 2025 as inflation continues to ease and incomes rise
Madbouly announced that the first tranche of the European Union’s support for Egypt, worth one billion euros, was deposited into the Central Bank last Friday
The growth is driven economic reform policies and notable improvement in certain sectors.
A central focus of the declaration is the commitment to enhancing partnerships across priority sectors, including agriculture, food security, energy, science and technology, industry, and the development of small and medium-sized enterprises. These efforts aim to bolster economic growth and resilience among member states.
In his opening speech, El-Sisi emphasized the importance of youth as the foundation of economic progress and called for unified action to achieve sustainable development.
President Abdel Fattah El-Sisi announced a series of initiatives at the 11th Summit of the Developing Eight (D-8) Organization for Economic Cooperation to strengthen collaboration and promote economic growth among member states.
The forecast was lowered “due to weak manufacturing activity, import restrictions, a downturn in gas extraction operations, and reduced shipping through the Suez Canal”.
She noted that in spite of the anticipated economic growth deceleration in 2024 due to Middle East conflicts, the rate is projected to surpass regional average.
The IMF stated during a press conference, Tuesday, as part of the World Economic Outlook report, that the Egyptian economy achieved a growth rate in gross domestic product (GDP) of 3.8 percent during 2023.
Conversely, the bank has lowered its expectations for Egypt's economic growth during the current year to 2.8 percent from its previous estimates of 3.5 percent.
From Fitch Solutions’ most optimistic view of Egypt’s growth to the lowered expectations of the IIF, a diverse range of forecasts paints a complex picture of the country’s potential growth in the coming year as the country faces numerous external geopolitical and economic shocks.
he Egyptian economy continued to grow during the second quarter of the current fiscal year by 3.9 percent, despite the global economic situation and the state of uncertainty imposed by global economic and geopolitical challenges and changes.
The center said that many developments took place in 2022 in spite of the international crises that cast a shadow on various economies.
The government investments include (investments of the state administrative apparatus, investments of local administration, investments of public service bodies).
This review shows indicators of Egypt’s economic growth rates before and after the Russian war on Ukraine.
El-Said added that the growth rate in Egypt amounted to 9 percent in the first half of the fiscal year.
The Media Center of the Cabinet released Saturday the figures.
Egypt’s President Abdel Fattah El Sisi directed officials to ensure that achieving balance between population and economic growth rates is the major objective of the national project to develop the Egyptian family.
Chinese Ambassador to Cairo Liao Liqiang said that the International Monetary Fund (IMF) expected Egypt’s economic growth will hit 3.6 percent despite the repercussions of due to the impact of the Coronavirus pandemic.
