Egyptian Prime Minister Moustafa Madbouly chaired a high-level meeting of the ministerial economic group on Thursday to assess macroeconomic trends, fiscal reforms, and efforts to attract foreign investment, as annual inflation continues to ease and growth picks up. The meeting brought together Central Bank of Egypt (CBE) Governor Hassan Abdalla, key economic ministers, and senior officials to review indicators including inflation, GDP performance, public finances, foreign direct investment (FDI) flows, and non-oil trade data. Dina Kassab, chief economist at the central bank, said Egypt's annual headline inflation rate fell to 15.3 per cent in the second quarter of 2025, down sharply from 29.4 per cent a year earlier, as the impact of previous shocks faded and monetary tightening measures took hold. "The downward trend reflects the success of corrective monetary policy implemented in 2024," Kassab noted. Finance Minister Ahmed Kouchouk said preliminary data for fiscal year 2024/25 point to an improvement in real GDP growth and a stronger primary budget surplus compared to earlier projections. Investment Minister Hassan El-Khatib said non-oil FDI accounted for the bulk of net inflows between July 2024 and March 2025, signalling progress in diversifying investment beyond the petroleum sector. He also highlighted new efforts to improve the accuracy and strategic utility of FDI reporting. Egypt's non-oil exports rose 22 per cent in the first half of 2025, with gold leading the surge with a 195 per cent increase in value, followed by refined oil products, which grew 69 per cent, said General Organisation for Export and Import Control (GOEIC) chairman Essam Al-Naggar. Planning Minister Rania Al-Mashat briefed the meeting on recommendations from a UN expert panel on global debt and reviewed development financing cooperation with international lenders and partners. The government reaffirmed its commitment to restoring fiscal discipline, curbing inflation, and strengthening investor confidence as part of broader efforts to stabilise the economy and boost sustainable growth. Attribution: Amwal Al Ghad English
