Planning Minister Highlights Egypt's Economic Agenda in Parliamentary Session

H.E. Dr. Hala El Said, Minister of Planning and Economic Development, engaged in a comprehensive discussion regarding Egypt's economic and social development plan for the fiscal year 2024/2025 during a session of the House of Representatives. 

Accompanied by esteemed members including Deputy Minister Ahmed Kamali and Assistant Ministers Dr. Jameel Helmy, Eng. Nahed Morsi, Dr. Heba Mughyeb, Mr. Ismail Youssef, and Dr. Mohamed Maghraby, Minister El Said underscored the nation's commitment to national programs for economic reform, reaffirming Egypt's sovereignty over its economic policies.

Addressing inquiries from parliamentary members, Minister El Said acknowledged the exceptional circumstances affecting global economies, citing the impact of successive crises, including the COVID-19 pandemic, the Russo-Ukrainian crisis, and the current situation in Gaza. Despite these challenges, Egypt maintains a positive growth trajectory, with most sectors of the national economy achieving favorable growth rates, and unemployment levels stabilizing at 7%.

Furthermore, Minister El Said emphasized the government's efforts to promote equitable investment distribution across all governorates, ensuring a balance between budget deficits and economic growth stimulation. In the realm of comprehensive healthcare coverage, she announced plans to introduce 58 hospitals into service, including 8 comprehensive healthcare facilities, in the new fiscal year.

Highlighting Egypt's infrastructure development endeavors over the past seven years, Minister El Said noted a 55% increase in investments primarily directed towards healthcare and education sectors this year. She also stressed the government's commitment to setting investment thresholds, particularly for infrastructure projects, prioritizing resource management accordingly.

Regarding underutilized assets, Minister El Said revealed that 4250 assets are potentially convertible into investment assets. The Sovereign Fund for Investment and Development of Egypt is conducting studies to optimize these assets, enhancing private sector participation.

In addressing structural reforms initiated in 2022, Minister El Said emphasized collaborative efforts with the private sector and civil society, aiming to increase the relative weight of the industrial, agricultural, and ICT sectors to 35% by the end of 2025/2026.

Looking ahead, Minister El Said outlined a growth target of 4.2% for the upcoming year amidst a global economic slowdown, with sector-specific growth rates anticipated across the national economy.

In conclusion, Minister El Said reiterated Egypt's demographic advantage, with 70% of the population under 40 years old. The government's national reform program focuses on enhancing workforce efficiency and market adaptability, aligning educational outcomes with evolving labor market demands.