Egypt Advances Economic Reform with Launch of National Development Narrative

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, held a meeting with a delegation from S&P Global Ratings, in the presence of Mr. Roberto Sifon-Arevalo, Global Head of Sovereign & MLI Ratings, S&P Global Ratings; Mr. Benjamin Young,Managing Director, Sector Lead, EMEA Sovereign Ratings, S&P Global Ratings; Mr. Ravi Bhatia, Director, Sovereign and International Public Finance Ratings, S&P Global Ratings.

During the meeting, the Minister reviewed the most prominent developments in the Egyptian economy, including macroeconomic indicators and the government’s ongoing commitment to implementing economic and structural reforms. 

These reforms aim to preserve the gains achieved since the March 2024 measures, while moving forward with steps to empower the private sector and attract both domestic and foreign investment.

The Minister highlighted the positive growth rates achieved by the Egyptian economy during the first nine months of the past fiscal year 2024/2025, which reached approximately 4.2%, compared to 2.4% during the same period of the previous year. She emphasized the continued positive contributions of vital sectors—particularly non-oil industries, exports, information and communications technology, and tourism—following the March 2024 economic reforms, noting that preliminary indicators for FY 2024/2025 point to higher-than-expected growth.

H.E. further noted the acceleration of private investment at constant prices, which rose by 24.2% year-on-year during the third quarter of FY 2024/2025, reaching EGP 142.8 billion. This exceeded public investment for the third consecutive quarter and accounted for about 62.8% of total investments (excluding inventory).

The Minister affirmed that the Egyptian economy is moving steadily toward achieving comprehensive economic development by maintaining the momentum of reform and implementing the national structural reform program aimed at enhancing macroeconomic stability, improving the business environment, and promoting the transition to a green economy.

H.E. also explained that Egypt has become a platform for development financing directed to both local and foreign private sector partners in cooperation with international institutions. The government is committed to rigorous financing governance and is working to reduce external debt through measures that strengthen debt sustainability.

In this context, Dr. Al-Mashat highlighted the launch of “Egypt’s National Narrative for Economic Development: Reforms for Growth, Jobs & Resilience”, a comprehensive framework that integrates the Government Action Program (2024/2025 – 2026/2027) with Egypt’s Vision 2030. This framework reflects the government’s shift towards an economic model that consolidates macroeconomic stability while prioritizing higher-productivity, tradable sectors with strong export potential. It seeks to capitalize on Egypt’s advanced infrastructure and redefine the state’s role in the economy, thereby enhancing competitiveness and stimulating private sector participation, continuing the trajectory of economic reform.

H.E. added that “Egypt’s National Narrative for Economic Development: Reforms for Growth, Jobs & Resilience”aims to maximize the contribution of real economy sectors by leveraging Egypt’s competitive advantages and recent infrastructure achievements. It also functions as both a reform program and a communications tool, highlighting policies and structural reforms that support growth, attract investment, expand private sector engagement, and present promising sectoral opportunities and financing alternatives.

Finally, Dr. Al-Mashat referred to the ongoing implementation of the executive regulations of the State General Planning Law, noting that for the first time, an economic and social development plan will be prepared for a period of three years, beginning with FY 2026/2027, within the framework of medium-term budgets.