Parliament gives final approval for Egypt's FY2025/26 economic, social development plan
Arab Finance: The House of Representatives has officially approved the draft economic and social development plan for fiscal year (FY) 2025/2026 in a plenary session chaired by Hanafi Gebaly, as per a statement by the Egyptian cabinet on June 17th.
The session was attended by the Minister of Planning and Economic Development, and International Cooperation Rania Al-Mashat.
In her remarks following the approval, Al-Mashat expressed appreciation for the continued support of Parliament, emphasizing the importance of ongoing cooperation to advance Egypt's national interests.
She noted that the plan was developed under difficult circumstances, which have since become more complex due to escalating regional developments.
These changes necessitate a flexible and responsive planning approach, with the government committed to regularly reviewing performance indicators in light of shifting realities, she said.
The FY 2025/2026 development plan targets an economic growth rate of approximately 4.5%, a significant increase compared to the 2.4% recorded in FY 2023/2024.
The higher target reflects efforts to sustain economic recovery while managing the uncertainty stemming from geopolitical and global economic conditions.
Preliminary indicators from the first nine months of the current FY 2024/2025 show improved growth trends, providing momentum for the upcoming year.
The plan includes public investments amounting to EGP 1.16 trillion, compared to an expected EGP 1 trillion in FY 2024/2025.
This increase is framed within efforts to rationalize public spending, reduce the burden of debt servicing, and create more space for private sector engagement in development.
Private investments are projected to reach approximately EGP 1.94 trillion in FY 2025/2026, representing about 63% of total planned investments, while public investments account for 37%.
The plan gives priority to high-implementation projects that support sustainable economic goals and encourage broader private sector participation.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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