WASHINGTON – Minister of Planning Rania el Mashat said the Gross Domestic Product (GDP) growth rate reached 2.4% in the last fiscal year (FY) due to geopolitical tensions and challenges facing the Egyptian economy before the start of the economic reform program in March.
She pointed out that despite this, Egypt’s economic outlook remains positive, as it enjoys support from international financial institutions and development partners.
This came during her participation in the activities of the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB) Group 2024 in Washington.
She met with the leaders of the Jefferies Financial Group, which is one of the largest investment solutions and asset management companies in the world, with the attendance of 75 international companies.
Mashat also held a meeting with the JP Morgan Bank Group and a number of investors to review the results of the economic and structural reform program in Egypt within the framework of promoting the efforts made by the state to encourage investment and attract capital.
Minister of Finance Ahmed Kouchouk was present.
During the meeting, Mashat presented what has been achieved at the level of economic and structural reform in the past period, and the efforts made by the state to enhance macroeconomic stability, improve the business environment, and build a competitive economy that attracts investments.
Mashat said: “Many reforms have been implemented to enhance the competitiveness of the Egyptian economy, including the cancellation of tax exemptions and fees on government entities in economic and investment activities.”
There was also issuance of major decrees for bond trading, which included rules and incentives to improve competition and transparency and increase trading in the secondary market.
