Egypt’s economy is on track to achieve growth of nearly 5% in the current 2025/2026 fiscal year, supported by economic reforms and the positive impact of a peace deal in Gaza, Planning and International Minister Rania Al-Mashat said on Wednesday.
Speaking at the “People and Banks” economic conference, Al-Mashat said the economy has witnessed significant improvement, with GDP growth reaching 4.4% by the end of the last fiscal year. This growth was driven by real economy sectors such as non-oil manufacturing, information technology, tourism, and financial intermediation.
“The upgraded credit rating and improved macroeconomic indicators reflect the effectiveness of economic and structural reform decisions,” Al-Mashat said in her address, which was delivered via video.
She highlighted the effectiveness of reforms initiated since March 2024 and the strong coordination within the economic ministerial group, which are aimed at preserving macroeconomic stability and unlocking Egypt’s economic potential.
The minister stated that the government has developed “Egypt’s Narrative for Economic Development,” an economic reform programme that goes beyond fiscal and monetary policies to focus on the real economy and policies that support growth and employment.
Amid these developments, she noted, Egypt was able to successfully coordinate efforts to sign a historic peace agreement in Sharm El-Sheikh to end the war in Gaza. “The success and durability of this agreement are expected to open up more positive prospects for both the Egyptian and regional economies, including the resumption of activities in the Suez Canal,” she said.
Al-Mashat also highlighted the close cooperation between her ministry and the banking sector, through which various financing tools from international partners have channelled over $16 billion to the private sector since 2020. The banking sector itself accounts for 42% of this development financing.
She also touched upon her recent participation in the World Bank Annual Meetings in
