Egypt has secured $9.5bn in concessional financing to support the state budget since the beginning of 2023, linked to structural and sectoral reforms, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat said on Tuesday. Speaking at a conference on economic competitiveness, Al-Mashat stated that reforms supporting growth and employment "will not cease" as the country transitions from managing challenges to consolidating stability. To support fiscal discipline, the minister noted that the government adhered to an investment spending ceiling of EGP 1trn in the 2024/25 fiscal year. Preliminary indicators showed actual public investments amounted to EGP 922bn, representing 92% of the target. Al-Mashat said this governance of public investment has reduced burdens on the general budget and debt, creating space for the private sector to increase its share to 63% of total investments in the current fiscal year. "Economic policy has become more predictable, enhancing the confidence of the business community and investors," Al-Mashat said, adding that "2026 will witness a different shift for the Egyptian economy". Concessional financing provided to the private sector since 2020 has exceeded $15bn, according to the minister. This included $5bn through the "NWFE" energy programme, which provided financing to companies including Infinity Power, AMEA Power, ACWA Power, and Scatec. Looking ahead, Al-Mashat said the ministry is working with the Ministry of Finance to prepare the Economic and Social Development Plan and a Medium-Term Budget Framework for 2026/27–2029/30. This will be linked to performance methodologies to ensure spending efficiency. The minister added that the coming period will see €1.8bn in additional financing through the European Investment Guarantee mechanism, alongside further equity investments by international institutions. Regarding structural changes, Al-Mashat said the state is continuing labour market reforms and has adopted a unified definition for start-ups to allow companies to benefit from government incentives. Al-Mashat was speaking at the Hapi Newspaper Conference, attended by Finance Minister Ahmed Kouchouk, Public Business Sector Minister Mohamed Shimi, and Financial Regulatory Authority Chairperson Mohamed Farid.
