Egypt aims to achieve a growth rate of 4.2% for the 2024-2025 fiscal year, up from 3% for the current year, despite global economic and geopolitical crises, the Minister of Planning and Economic Development, Hala al-Saeed.
In a speech on the sidelines of annual meetings to discuss the 2024 economic and social development plan in Cairo on Sunday, Saeed added that the communications sector is expected to grow by 16 percent and tourism by 45 percent next fiscal year.
According to her, the total investments targeted in the 2024-2025 plan amount to two trillion Egyptian pounds and will focus on the health and education sectors as priority, while boosting the role of the private sector.
Egypt’s economic growth target for next fiscal year exceeds the expectations of the World Bank, which estimates that growth will reach 3.9%, but remains below the expectations of the International Monetary Fund, which estimates that the Egyptian economy will grow by 4.7% in 2024-2025.
This growth ambition demonstrates Egypt’s resilience and determination to strengthen its economy despite global challenges. The focus on the health and education sectors also shows the country’s desire to prioritize the well-being of its population and foster an environment conducive to private investment.
By focusing on these key areas, Egypt is giving itself the means to prosper economically and build a more stable and prosperous future for its people.