Egypt on Sunday launched a new economic development plan that targets an annual growth rate of 7% by 2030 and aims to significantly increase the role of the private sector in the economy.
The plan, titled “The National Narrative for Economic Development: Policies Supporting Growth and Employment,” was officially launched by Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, at an event attended by Prime Minister Mostafa Madbouly and several cabinet ministers.
The plan sets a series of ambitious quantitative targets for 2030. It aims to increase total investment to 18% of GDP by 2030, up from a target of 15.2% in the current fiscal year’s plan.
In line with the government’s goal of empowering the private sector, the narrative targets raising the share of private investment in total investment to 66% by 2030 from 60%, and increasing private investment’s share of GDP to 11.9% from 9.1%. It also aims for the private sector’s contribution to GDP to reach 82% by 2030.
The plan also includes environmental targets, aiming to increase the proportion of green public investments to between 70-75% of total public investments by 2030, compared to 50% in the current fiscal year. On the employment front, the goal is to increase the number of jobs the economy generates annually from an expected 900,000 in the current fiscal year to 1.5 million by 2030.
Al-Mashat described the narrative as a comprehensive framework that integrates the government’s action programme with the long-term Egypt Vision 2030, in light of recent regional and international changes. She said it aims to continue the path of economic reform and shift the focus towards more productive, export-oriented sectors.
The plan builds on the massive infrastructure investments made in recent years, which have laid the foundation for a more dynamic economy, and seeks to redefine the state’s role to enhance competitiveness and stimulate private sector participation.
The minister explained that the narrative is not a separate initiative but rather an integrated framework that builds on the National Programme for Structural Reforms and other national strategies, responding to current economic realities. It translates structural reform priorities into measurable quantitative targets up to 2030, she said.
Al-Mashat added that in light of global geopolitical tensions and protectionist policies, the Egyptian government is adopting a balanced approach to enhance the economy’s resilience while decisively addressing internal challenges.
The cabinet has confirmed that the narrative will be put forward for a public dialogue over the next two months. Specialised sessions will be held with various experts to create a constructive societal discussion around its different themes.
