Egypt targets 4.2% economic growth
Egypt aims to achieve a real economic growth rate of 4.2 per cent in 24/25, compared to the forcasted low rate of 2.9 per cent in 23/24, said Planning and Economic Development Minister Hala El-Said during her presentation of the upcoming financial budget plan before the Egyptian state.
This decline was due to the direct impact of global and regional economic and geopolitical crises and their international and local repercussions.
El-Said noted that the investment rate is projected to rise from 11.9 per cent in 2023–2024 to 13 per cent in the plan year. By the final year of the medium-term plan in 25/26, the investment rate is expected to return to its previous level of 17 per cent, driven by an anticipated surge in private investments, both domestic and foreign.
Moreover, the minister highlighted the participation rate of the private sector in total fixed asset investments is expected to increase from 37 per cent in 23–24 to around 48 per cent in 24–25, aligning with the state’s policy to open more opportunities for private sector participation.
El-Said added that the plan targets public investments of around 1 trillion Egyptian pounds as a financial ceiling to ensure rationalisation of public investment spending and reduce external borrowing burdens. Approximately 496 billion Egyptian pounds of this will be allocated to government investments, accounting for 50 per cent of total public investments, with a significant portion focused on human development.
Moreover, a total of 268 billion Egyptian pounds will be dedicated to education, health, and other social services sectors, equivalent to 27 per cent of total public investments.
In the field of education services, about 71 billion Egyptian pounds will be directed as public investments to school and university education, including an over 60 per cent increase in investments funded by the public treasury for both the Ministry of Education and Technical Education and the Ministry of Higher Education and Scientific Research.
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