Egypt’s economy is expected to grow by 4% in the fiscal year 2024/2025, according to the Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat. This growth is part of a broader trajectory that the government’s reform program has set, although further action is still needed. Additionally, Egypt is planning to invest EGP 7.7 billion in developing priority industrial sectors over the next four years starting in 2025, aiming to strengthen it’s industrial base, reduce imports, and increase exports. The government has also reported critically important benefits from a local development program in Upper Egypt, including job creation and infrastructure improvements.
Exclusive Interview: Egypt’s Economic Prospects for 2025
Table of Contents
- Exclusive Interview: Egypt’s Economic Prospects for 2025
- editor: How would you characterize Egypt’s economic performance in 2024?
- Editor: Could you elaborate on the growth forecast for the fiscal year 2024/2025?
- Editor: How does this growth rate compare to the previous years?
- Editor: What are the key targets outlined in Egypt’s extensive economic blueprint for 2024-2030?
- Editor: What are the specific investments planned for the industrial sector in the coming years?
- Editor: Could you highlight some of the benefits from the local development program in Upper Egypt?
- Editor: what are the main takeaways from this interview?
editor: How would you characterize Egypt’s economic performance in 2024?
Guest: Egypt’s economy faced several challenges in 2024, but there are signs of resilience and promise.The country is set to receive 35 percent of the profits generated from a critically important development project. This indicates a positive outlook for future economic activities.
Editor: Could you elaborate on the growth forecast for the fiscal year 2024/2025?
Guest: The Ministry of Planning and Economic Development announced a more optimistic forecast of 4.4 percent growth for the fiscal year 2024/2025. This surpasses the government’s earlier target of 4.2 percent and positions Egypt prominently on the global economic growth scale.
Editor: How does this growth rate compare to the previous years?
Guest: Discussing Egypt’s economic growth rates from 2021/2022 to 2024/2025, dr. El-Said noted the target of achieving a growth rate between 4% and 4.2% in 2024/2025. This shows a consistent effort to maintain and improve economic growth over the years.
Editor: What are the key targets outlined in Egypt’s extensive economic blueprint for 2024-2030?
Guest: The roadmap targets strong, inclusive, lasting, and balanced economic growth ranging from 6 to 8 percent.It focuses on improving the quality of economic growth through increasing exports and investments. Moreover, it targets a supportive economic growth rate to provide 7 to 8 million job opportunities during that period.
Editor: What are the specific investments planned for the industrial sector in the coming years?
Guest: Egypt is planning to invest EGP 7.7 billion in developing priority industrial sectors over the next four years starting in 2025. This aims to strengthen its industrial base, reduce imports, and increase exports.
Editor: Could you highlight some of the benefits from the local development program in Upper Egypt?
Guest: The local development program in Upper Egypt has reported critically significant benefits, including job creation and infrastructure improvements. These initiatives are crucial for balanced economic growth and regional development.
Editor: what are the main takeaways from this interview?
guest: The main takeaways are Egypt’s resilience in the face of economic challenges, the optimistic growth forecast for 2024/2025, and the government’s commitment to sustainable and inclusive economic growth through targeted investments and development programs.
