Egypt's Economy Grows 5.1% in 1st Nine Months of Fiscal Year: Planning Min.

Egypt's economy expanded by 5.1% during the first nine months of the current fiscal year, Planning, Economic Development Minister Ahmed Rostom said, signaling continued recovery despite a challenging global economic environment.

Speaking during a meeting with members of the Coordination Committee of Party Youth Leaders and Politicians (CPYP), Rostom said the government expects economic growth to close the current fiscal year at between 4.9% and 5.0%.

He added that growth is projected to accelerate further in the next fiscal year, with the government targeting a rate of between 5.2% and 5.4%.

The minister said the forecasts are based on advanced statistical modeling and economic analysis, reflecting confidence in the country's economic performance and reform trajectory.

Rostom noted that the government has prioritized projects nearing completion to ensure they enter service as quickly as possible, while creating greater opportunities for domestic and foreign private-sector investment.

He also highlighted efforts to promote entrepreneurship through a ministerial group dedicated to the sector, chaired by Deputy Prime Minister Hussein Issa. The initiative aims to develop an integrated institutional framework and implementation program to support innovation, knowledge-based industries and startup growth.

Rostom's remarks came during an event marking the eighth anniversary of the launch of the Coordination Committee of Party Youth Leaders and Politicians, attended by several lawmakers and political representatives.

Rostom said Egypt's economic and social development plan for the upcoming fiscal year was formulated against a backdrop of regional and global uncertainty. Despite those challenges, he said the government remains committed to increasing investments in human development sectors, particularly healthcare, education and capacity building.

At the same time, authorities are implementing measures to mitigate the impact of global supply chain disruptions on the prices of essential commodities and to strengthen the resilience of the Egyptian economy.

Lately, Egypt has pursued a series of economic reforms in recent years aimed at boosting growth, attracting investment, expanding private-sector participation and improving macroeconomic stability.