Minister Al-Mashat: Egypt’s economy on ‘more predictable’ growth path

Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, said the country’s “macroeconomic framework is now more predictable,” allowing the government to meet its objectives while reinforcing structural reforms to ensure economic durability.

In an interview with CNN International released by the ministry on Tuesday, Minister Al-Mashat projected a 4 per cent GDP growth by the end of next June, and 4.5 per cent in the following fiscal year, barring external challenges like global trade protectionism.

While acknowledging global uncertainties, she positioned Egypt as a prime hub for exports to Europe and a key regional player in manufacturing. The country is focusing on high-value industries, moving beyond non-tradable sectors to expand into tradable, high-growth sectors such as cement, iron, plastics, processed foods, and agricultural exports.

“The goal … we want to move from the non-tradable sectors to more tradables which are across the high value chain …,” Minister Al-Mashat said.

Regional cooperation remains a cornerstone of Egypt’s economic strategy, with the Egyptian minister highlighting joint economic committees with Jordan and Iraq to bolster economic integration. She also pointed to strategic infrastructure projects, such as the Egypt-Saudi electrical interconnection, which strengthens energy ties with Gulf nations. Additionally, Egypt’s geopolitical position as a key transit point for submarine internet cables across the Red Sea enhances its role in global digital connectivity.

Minister Al-Mashat reaffirmed the government’s commitment to fostering private sector-led growth, ensuring a business-friendly environment through structural reforms. These efforts aim to unlock Egypt’s economic potential and attract both local and international investments, reinforcing its position as a rising economic powerhouse in the region.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser