Madbouly: Egypt Aims to Raise Growth Above 7%

Egyptian Prime Minister Mostafa Madbouly said the government aims to raise the country’s economic growth rate above 7%, stressing that the state has developed major economic foundations across the country to support growth and employment.

Madbouly made the remarks following the weekly Cabinet meeting and during the launch of the second edition of the State Ownership Policy Document, in the presence of officials, experts and specialists.

The prime minister said the state had invested in economic infrastructure across Egypt to maintain growth and job creation, adding that the government’s objective is to push growth rates beyond 7%.

He said the State Ownership Policy Document was designed to return the private sector to a leading role in driving economic growth. Madbouly added that the private sector has already returned strongly, accounting for more than 65% of total investments.

The updated version of the document is part of the government’s efforts to define the role of the state in the economy, expand private sector participation, and create a more attractive environment for investment.

Osama El-Gohary, Assistant to the Prime Minister, said the second edition of the document was updated within the existing legislative framework. He explained that the new version will focus on the state’s role in the economy and define its involvement in economic activity through seven main roles.

El-Gohary said the first edition of the State Ownership Policy Document had received wide praise, noting that deals worth a total of $5.9 billion were completed under its first version.

The launch of the second edition reflects the government’s continued efforts to advance economic reform, increase private investment, and strengthen the contribution of productive sectors to national growth.