During a Meeting Between H.E. the Minister of Planning, Economic Development, and International Cooperation and the Planning and Budget Committee in the House of Representatives to Present Key Indicators of the Egyptian Economy

H.E. Dr. Rania Al-Mashat: Restructuring economic authorities to improve efficiency and increase their contribution to the GDP is a priority for the government.

Dr. Hussein Issa: A study on the status of 59 economic authorities, with 6 possible scenarios for their restructuring.

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, affirmed that restructuring economic authorities to improve efficiency and increase their contribution to the GDP is a top priority for the government. She explained that the Supreme Committee for Economic Authorities was established in 2022, followed by the formation of a technical committee chaired by Dr. Hussein Issa to assess the conditions of these authorities and explore optimal options for each, with the goal of benefiting the national economy.

 

This came during a broad meeting she held today with the Planning and Budget Committee in the House of Representatives. The meeting aimed to discuss the actual implementation of the 2023/2024 fiscal year’s economic and social development plan, review the economic situation, and assess the status of economic authorities. The meeting was chaired by H.E. Dr. Fakhry El-Feki, Chairman of the Planning and Budget Committee, with the attendance of the honorable members of parliament.

 

For his part, Dr. Hussein Issa, Chairman of the Technical Secretariat of the Committee for the Reform and Restructuring of Economic Authorities, explained that the technical secretariat was formed in June 2024 by a decision of H.E. Prime Minister Dr. Mustafa Madbouly. The committee has held several meetings in partnership with the Ministries of Planning, Economic Development, and International Cooperation, and Finance, to study the economic authorities. To date, 59 files have been prepared concerning various authorities across the country, containing both financial and non-financial data. This is the first phase, which aims to categorize each authority according to six alternatives: either retaining the authority, converting it into a public authority, merging some authorities, splitting an authority into smaller entities, liquidating and dissolving the authority, or transforming it into a holding company. He further explained that after completing the first phase, the results will be presented to the Supreme Committee chaired by the Prime Minister for a decision before moving into the second phase, which will involve separate plans and work arrangements.

 

During her participation, H.E. Dr. Rania Al-Mashat reviewed the efforts to implement the structural reform program. She highlighted the state’s commitment to achieving comprehensive and sustainable development through the coordinated efforts of various institutions, according to integrated strategic plans. The Ministry of Planning, Economic Development, and International Cooperation is responsible for monitoring the implementation of Egypt’s Vision 2030 and the national economic and structural reform program. This is done in coordination with all relevant ministries and agencies and in cooperation with international development partners to secure financing for budget support that will assist in implementing structural reforms aimed at enhancing economic competitiveness, improving the business environment, bolstering the macroeconomy’s resilience to external shocks, supporting the green transition, and opening future prospects for comprehensive and sustainable development, all to maximize the benefits of financial and technical development partnerships.

 

H.E. Dr. Al-Mashat also discussed the main pillars of economic and structural reform policies, which include enhancing macroeconomic stability, diversifying the production structure of the Egyptian economy by focusing on the real economy sectors such as industry, agriculture, and information and communication technology, increasing competitiveness, improving the business environment, supporting the transition to a green economy, enhancing labor market efficiency and flexibility, and developing vocational education and training systems.