Al-Mashat (Friday, 1:00 PM)

You will see [Egypt’s economy] recovering over the past three quarters… Where is this growth coming from? It’s coming from the non-oil manufacturing sector. It’s coming from a rebound in tourism. It’s coming from activity in the ICT sector as well as construction. All of this is happening despite the headwinds from the Suez Canal.

What we are seeing [in Egypt] is a very important move from reliance on non-tradable sectors to a reliance on tradable sectors.

The spending that was done on infrastructure was necessary to be able to go to the second phase, which is inviting more FDI and private sector engagement. But it has to be coupled with structural reforms that create a competitive and investment-friendly economy.

Part of the restoration of macroeconomic stability… is both fiscal retrenchment and at the same time, there was monetary tightening. Both of these levers, in addition to the ceilings that we put on public investment, were the trio that helped us bring down inflation rates [and] bring down the fiscal deficit.

We enjoy very robust and strong partnerships with different [international financial institutions] and multilateral development banks that lend to the private sector. So in 2024, this was the first year that concessional finance to the private sector exceeded the government.

Khaled Sakr

Can you share with us your vision on the role of public investment in generating growth?

Khaled Sakr

What are you doing to enhance public debt management?

Khaled Sakr

How are you managing the downside impacts of retrenching public investment?

Rania Al-Mashat Egyptian Minister of Planning, Economic Development, and International Cooperation