Egypt's National Narrative for Economic Development is not tied to the presence of the International Monetary Fund (IMF) but is a homegrown charter reflecting the country's priorities, Planning and Economic Development Minister Rania Al-Mashat said on Sunday. Speaking at a meeting with newspaper editors, Al-Mashat said the framework builds on Vision 2030, government programmes, and sectoral strategies, aiming to anchor growth in higher-productivity, value-added sectors with stronger export potential. "Controlling inflation and maintaining fiscal discipline allow us to generate surpluses that can be redirected to health, education and human development," she said. She added that macroeconomic stability is a prerequisite for job creation and attracting investment, stressing that the FY2025/2026 development plan introduces performance-based budgeting and marks the start of rolling three-year expenditure frameworks. Al-Mashat underlined the government's push to empower the private sector through the State Ownership Policy, which defines sectors the state will exit, while expanding public-private partnerships to support green transition and infrastructure projects. On social spending, she said health sector allocations had risen significantly, fully covering infrastructure upgrades and the rollout of universal health insurance. She also highlighted Egypt's role as a hub for concessional financing, securing $16 billion from development partners since 2020, including an EU-backed €1.8 billion guarantee that mobilised €5 billion in investment. "Macroeconomic stability, reducing deficits and ensuring debt sustainability are the gateway to unlocking the real economy," Al-Mashat said. Attribution: Amwal Al Ghad English
