Minister of Planning and Economic Development Ahmed Rustum has affirmed the government’s commitment to advancing comprehensive economic reform efforts and strengthening co-operation with international partners, particularly the World Bank Group (WBG).
He also emphasised that the development of a national foreign direct investment strategy, in collaboration with the bank, represents a key pillar in improving the business environment, empowering the private sector, enhancing competitiveness, promoting inclusive and sustainable growth, creating employment opportunities, and raising living standards.
These remarks were made during a meeting he held on Thursday with representatives of the bank group, attended by Regional Director for Egypt, Yemen and Djibouti Mr Stefan Gembert and his delegation.Discussions focused on strengthening the strategic partnership in light of the state’s ongoing economic reform programme, as well as reviewing progress in the preparation of the foreign direct investment strategy and key initiatives under the forthcoming economic and social development plan, the ministry said in a statement.
Minister Rustum further outlined the main features of the economic and social development plan for the 2026/2027 fiscal year, as well as the medium-term framework for the period 2027/2028 to 2029/2030, previously presented to the House of Representatives, it added.
He noted that the plan focuses on achieving sustainable economic growth, increasing productivity, and improving quality of life, with particular emphasis on human development sectors.
The plan targets a growth rate of 5.4 per cent in the upcoming fiscal year, rising to 6.8 per cent by the end of the medium-term period.
It also aims to support real economy sectors and strengthen the role of the private sector, with total investments estimated at approximately LE3.7 trillion and a target to increase the private sector’s contribution to 64 per cent by 2030.
He added that the plan prioritises the presidential “Decent Life” initiative, alongside expanding investments in health and education, strengthening social protection programmes, and continuing the development of infrastructure and essential services, in support of comprehensive and sustainable development.
For their part, WBG representatives commended Egypt’s progress in implementing its economic reform programme, noting its positive impact on macroeconomic stability, economic performance indicators, and the overall investment climate.
They emphasised the importance of maintaining reform momentum and continuing to adopt policies that support competitiveness and sustainable economic growth.
