Egypt’s Economic Growth to Reach 8% by 2030, Prime Minister Says

Egypt’s economic growth rate could climb to as high as 8% by 2030, Prime Minister Mostafa Madbouly said on Sunday, underscoring the government’s push to accelerate industrial expansion and strengthen local production.

Speaking in a televised statement following an extensive tour of the Suez Canal Economic Zone (SCZone), Madbouly highlighted the inauguration of several new industrial and logistics projects, attended by senior ministers and government officials.

The prime minister revealed that 190 factories are currently operational within the SCZone, while an additional 150 factories are under construction, describing the area as a central pillar of Egypt’s long-term economic strategy.

“These projects are not only creating thousands of job opportunities, but also play a crucial role in deepening domestic manufacturing and reducing reliance on imports paid for in foreign currency,” Madbouly said.

The SCZone has emerged as one of Egypt’s most significant development hubs, benefiting from its strategic location along one of the world’s busiest maritime trade routes. Government officials view the zone as a catalyst for attracting foreign investment, boosting exports, and enhancing Egypt’s position in global supply chains.

Madbouly emphasized that expanding industrial capacity is key to achieving sustainable growth, particularly amid global economic uncertainty and regional challenges. The government, he added, remains focused on encouraging private sector participation and accelerating infrastructure development to support long-term economic resilience.