Egypt’s Minister of Planning, Economic Development, and International Co-operation Rania al-Mashat, stressed the crucial role of macroeconomic stability and private sector growth in creating jobs.
Addressing a World Bank session on “Jobs: The Key to Prosperity”, on the sidelines of her participation in the 2025 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), al-Mashat stated that governments must prioritize policy predictability to foster a thriving private sector, as governments alone cannot generate sufficient employment.
She highlighted the necessity of structural reforms to remove barriers, enhance competition, and support the green transition as foundational to economic success.
Minister Al-Mashat,who is also Egypt’s Governor at the WBG, underscored the significance of investing in human infrastructure by providing youth with skills relevant to current trends and private sector demands. She highlighted Egypt’s industry-linked vocational schools as a key strategy in achieving this goal.
Minister Al-Mashat reviewed efforts to draw private sector investment into renewable energy and public-private partnerships. She championed an integrated financing approach encompassing foreign direct investment, domestic resource mobilisation, and debt swaps.
She stressed the urgency for swift government action in implementing economic policy to entice investment and deliver sustainable development.
Furthermore, Al-Mashat highlighted the tourism sector’s significant job-creating power, noting that every direct role supports four additional indirect positions. She underscored Egypt’s initiatives to boost tourism, including the imminent launch of the Grand Egyptian Museum, emphasising its crucial contribution to economic expansion and employment.
