Minister of Planning, Economic Development, and International Cooperation Participates in the Annual Scientific Conference of the Information and Decision Support Center

Dr. Rania Al-Mashat reviews efforts to implement the National Program for Structural Reforms and enhance macroeconomic stability.

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, participated in the annual scientific conference of the Information and Decision Support Center (IDSC) in collaboration with the Faculty of Economics and Political Science, entitled "Structural and Institutional Reforms in Egypt: The Road to Sustainable Growth.", in the presence of Dr. Osama El-Gohary, Assistant to the Prime Minister and Information and Decision Support Center Chairman , Dr. Mohamed Sami Abdel Sadek, President of Cairo University, Dr. Hanan Mohamed Ali, Acting Dean for Faculty of Economics and Political Science at Cairo University, and Dr. Omneia Helmy, Professor of Economics, Faculty of Economics and Political Science at Cairo University, Chairman of the conference.

 

During her speech, H.E.Dr. Rania Al-Mashat stated that over the past years, the Egyptian state has come a long way in the process of economic reform, with the aim of achieving macroeconomic stability, addressing structural imbalances, and enhancing the economy's resilience in the face of challenges. These efforts have come through a mix of macroeconomic policy reforms, supported by a set of integrated structural and institutional reforms, implemented by various state agencies, overseen by the Ministry of Planning, Economic Development, and International Cooperation.

 

H.E. explained that this process, which is deepening year after year, is increasingly appreciated by the international community and global economic institutions, as major institutions such as the International Monetary Fund and the World Bank recently raised their forecasts for the growth of the Egyptian economy in 2025 and 2026, while they have downgraded their growth forecasts for many countries worldwide, due to increasing complexities in the international economic landscape. This confirms the effectiveness of the reform policies adopted by the Egyptian state and the confidence of international partners in its path.

 

Al-Mashat added that the Egyptian state seeks to achieve a transformation in the Egyptian economic model in order to reach sustainable growth, based on tradable and exportable sectors through stimulating investment, localizing industry, and implementing integrated measures that would enhance the resilience of the national economy and its ability to absorb shocks. The Egyptian state has implemented a number of economic and structural reform measures since March 2024, which was reflected in the increase in the GDP growth rate during the second quarter of fiscal year 2024/2025 to 4.3%, compared to 2.3% in the same period of the previous fiscal year.

 

H.E. clarified that despite positive indicators, the most important aspect is the components of this growth and which sectors experienced greater growth. The second quarter growth was driven by the non-petroleum manufacturing sector, which recorded a growth rate of 17.74% for the third consecutive quarter, compared to a contraction of 11.56% in the same period of the previous fiscal year, Additionally, growth was seen in the transport andin addition to growth in the transportation and storage, tourism, communications and information technology sectors, which reflects the impact of structural reforms aimed at enhancing productivity and supporting export-led growth.

 

Furthermore, H.E. noted that structural and institutional reforms to support the path of inclusive and sustainable growth are one of the main pillars of the work of the Ministry of Planning, Economic Development, and International Cooperation, as part of its efforts to implement the National Program for Structural Reforms, in coordination with all relevant ministries and in partnership with international financial institutions and development partners. Within the framework of three main pillars: enhancing macroeconomic stability, improving the business environment and promoting the competitiveness of the Egyptian economy, and supporting the transition to a green economy. There is no doubt that structural reforms are a top priority in the government's program until 2027, given the pivotal role these reforms play in consolidating macroeconomic stability and enhancing its ability to face external challenges

 

In this context, H.E. also added that the Egyptian state succeeded last year in implementing over 86 structural measures, including enacting amendments to the Public Finance Law to set an annual ceiling on government debt, preparing a draft procedural guide for program and performance budgeting, taking measures to cancel exemptions granted to state-owned enterprises, as well as investment incentives, and facilitating tax policies.

 

H.E. highlighted that the Ministry of Planning, Economic Development, and International Cooperation is working to enhance coordination with partners, primarily the European Union and the World Bank, to mobilize funds to support the state's general budget to implement the national program of structural reforms. Egypt received approximately €1 billion from the European Union by the end of 2024, and the ministry is intensifying its efforts in coordination with development partners to complete the second phase of the macroeconomic support mechanism and budget support worth €4 billion, under which a large number of structural reform measures will be implemented to enhance fiscal policy control, stimulate the investment environment, and establish macroeconomic stability.

 

Al-Mashat continued that within the framework of moving forward with the reform process and achieving the transition to the new developmental model of the Egyptian economy, the ministry is working on preparing  the National Narrative for Economic Development, an executive plan to achieve economic development,  in order to achieve alignment between the government program and Egypt Vision 2030, and set clear targets that reflect the ambitions of the government program and are consistent with current changes in the global economy.