Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, underscored Egypt's steadfast commitment to economic growth and resilience during a series of interviews with regional and international media at the World Economic Forum (WEF) 2025 in Davos, Switzerland. Held under the theme "Collaboration for the Intelligent Age," the forum brought together global leaders, policymakers, and key stakeholders to address pressing economic and social challenges.
Dr. Al-Mashat outlined Egypt’s economic priorities, highlighting macroeconomic stability, structural reforms, and development financing as essential pillars for attracting investments and driving sustainable growth. Through its National Structural Reform Program, Egypt aims to enhance economic resilience, improve the business climate, increase competitiveness, and expand green investments.
In her discussions, the Minister presented promising indicators of Egypt's economic performance. Despite ongoing global and regional challenges, the Egyptian economy achieved 3.5% growth in the first quarter of fiscal year 2024/2025, with projections for 4% growth by year-end. This progress is fueled by robust performance in key sectors, including manufacturing, extractive industries, tourism, and information technology.
Dr. Al-Mashat emphasized the importance of peace and stability in the region, particularly in Gaza and the Red Sea, for unlocking economic potential. She noted that achieving lasting peace in Palestine and reducing tensions in the region would revitalize activities in the Suez Canal, a critical driver of Egypt’s economy. The country has played a pivotal role in supporting humanitarian efforts in Gaza, providing logistical aid, and advocating for sustainable peace.
The Minister also addressed inflation concerns, forecasting a decline in February due to the base year effect, which would lower production costs and signal positive economic momentum. She noted that Egypt's fiscal and monetary policies have successfully stabilized the foreign exchange market, resolved supply chain bottlenecks, and boosted exports, contributing to GDP growth.
Highlighting Egypt's developmental partnerships, Dr. Al-Mashat revealed that development financing in 2024 reached $9.5 billion, with private sector financing surpassing government financing for the first time. The private sector attracted $4.2 billion, particularly in renewable energy, manufacturing, and logistics, showcasing Egypt’s commitment to empowering private enterprise and fostering economic diversification.
Dr. Al-Mashat also emphasized the strengthening of Egypt’s strategic partnership with the European Union, which now includes macroeconomic stability support and financing linked to the National Structural Reform Program. This €5 billion agreement underscores the importance of structural reforms in enhancing the Egyptian economy’s resilience against external shocks.
The Minister pointed to tourism as a significant driver of growth, with strong performance in the first quarter despite regional tensions. Additionally, foreign investments in oil and extractive industries continue to rise, supporting economic stability and foreign revenue generation.
Through governance reforms and close monitoring of public investment, Egypt remains committed to empowering the private sector and increasing foreign direct investments. These efforts align with the government’s broader goal of sustainable development and the achievement of Vision 2030.
Dr. Al-Mashat concluded by underscoring the importance of international collaboration in addressing global challenges. She called for strengthened support from international financing institutions to facilitate low-cost development financing, particularly for emerging economies. By fostering partnerships and maintaining a clear focus on reforms, Egypt is positioning itself as a model for resilience and sustainable growth in the face of global uncertainty.
As Egypt continues to advance its economic agenda, the messages shared by H.E. Dr. Rania Al-Mashat at Davos signal the country’s determination to build a more inclusive and prosperous future, leveraging global cooperation and innovation to drive development.
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