Egypt's parliament approved Tuesday the government's economic and social development plan for the 2025/2026 fiscal year, setting a growth target of 4.5 per cent as authorities seek to bolster recovery despite escalating regional and global challenges. The plan, endorsed during a general session, outlines 1.16 trillion Egyptian pounds in public investment, up from about 1 trillion pounds this year. Private investment is expected to account for 63 per cent of total investment, reaching 1.94 trillion pounds, as the government aims to reduce reliance on public funds and encourage private sector participation. "The situation has grown more complex due to accelerating regional developments, which increase uncertainty," Planning Minister Rania Al-Mashat said. She underscored the need for a flexible planning approach and continuous review of targets as conditions evolve. The 4.5 per cent growth goal would mark a rebound from the 2.4 per cent expansion estimated for 2023/2024. Minister Al-Mashat said preliminary data for the first nine months of the current fiscal year point to improving growth despite headwinds. Egypt is also prioritising high-execution projects and trimming public spending to curb debt servicing costs, the minister said. The plan aligns with the government's structural reform programme as it navigates rising geopolitical and economic risks. Attribution: Amwal Al Ghad English
