🇪🇬EgyptNorth Africa
Egypt targets 5.4% economic growth and increased investment in 2026/2027 fiscal plan
via Egypt Today2 min read
Egypt's government aims for 5.4% economic growth in the next fiscal year, with projections reaching 6.8% by 2029/2030. The plan emphasizes expanding investment and private sector participation, targeting LE 3.7 trillion in total investments, with the private sector expected to contribute 59% initially and 64% by the end of the medium-term plan. The investment rate is forecast to rise from 17% of GDP next year to 20% by 2030. Growth is anticipated to be driven by real economy sectors, particularly manufacturing, which is projected to contribute 29% of total growth. Other key sectors include trade, tourism, construction, and agriculture, collectively accounting for 64% of economic expansion. GDP is projected to reach LE 24.5 trillion in FY2026/2027 and grow to LE 36.8 trillion by the end of the decade. The plan also prioritizes human development, with health sector allocations increasing by 25% and pre-university education spending rising by 11.5%. Social protection funding is set to increase by 57%, and infrastructure investments will continue across sectors like water, housing, irrigation, and renewable energy. The "Haya Karima" initiative remains central, focusing on completing its first phase and rolling out a second phase to improve rural living conditions. While global challenges persist, they are seen as opportunities for industrial localization and increased exports. The plan's success will be measured by both growth figures and improvements in citizens’ quality of life
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This summary was AI-generated from a story originally published by Egypt Today.
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Egypt’s Minister of Foreign Affairs, International Cooperation, and Expatriates, Badr Abdelatty, traveled to Manila on Tuesday to attend the ASEAN Ministerial Meeting. During his visit, Abdelatty is scheduled to meet with senior Philippine government officials and hold bilateral discussions with several counterpart foreign ministers to enhance cooperation and coordination on regional and international issues. He will also meet with key Philippine business leaders and executives from major companies to bolster trade, economic, and investment relations between Egypt and the Philippines, and explore collaboration across various sectors.
Prime Minister Mostafa Madbouly witnessed the signing of a memorandum of understanding between the Alexandria Port Authority and the Montenegro Ports Authority during Montenegro’s President Jakov Milatović’s official visit to Egypt. The agreement, signed by Alexandria Port Authority Chairman Vice Admiral Ehab Salah and Montenegro Ports Authority Chairman Stanko Dretic, aims to enhance bilateral cooperation in maritime transport and logistics. Key areas of collaboration include port management and operations, digital transformation, knowledge exchange, capacity building, and environmental sustainability. The MoU also outlines plans to explore new maritime connections between Egyptian and Montenegrin ports to strengthen supply chains and support trade and investment. Officials noted that the strategic locations of Egypt on the Mediterranean and Montenegro on the Adriatic could establish a significant maritime and logistics corridor linking European markets with the Middle East and North Africa. This partnership aligns with Egypt's ongoing efforts to modernize its port infrastructure and position itself as a regional hub for transport, logistics, and transit trade, while also supporting the Alexandria Port Authority's goal to expand international cooperation and improve the global competitiveness of Egyptian ports.