Al-Mashat reviewed developments in the Egyptian economy and the
results of the economic and structural reform program, which has been
implemented since March 2024. She also reviewed the impact of fiscal and
monetary policies on improving macroeconomic indicators, including growth and
inflation. This was reflected in the higher growth rates projected by the IMF in
its recently issued World Economic Outlook report.
She stressed the political leadership's commitment to encouraging
domestic and foreign investment by lowering the cost of investment for the
private sector, noting President Abdel Fattah El-Sisi's directives to unify
taxes and fees for investors, which will contribute to improving the business
environment and eliminating significant burdens previously borne by investors.
Al-Mashat noted that the government will continue to implement the
investment spending ceiling for public investments in the next fiscal year, in
order to govern the state's contribution to economic activities and provide
more opportunities for the private sector. She called on investors to closely
explore the investment opportunities available to local and foreign companies
in many promising sectors, especially renewable energy, infrastructure, and
non-petroleum manufacturing industries, among others.
She stated that Egypt is a promising and stable market despite the
surrounding regional and international turmoil, which makes it attractive to
investors. The government also pursues systematic, integrated, and consistent
policies across the various ministries of the economic group to maintain
macroeconomic stability and enhance the economy's competitiveness regionally
and internationally.
The Minister stressed the continuation of structural reforms to
support the economy’s ability to withstand external shocks, and that the coming
period will witness the implementation of a package of reform measures in
coordination with the ministries and concerned authorities.
She pointed out that the improvement in Egypt's economic indicators
reflects the effectiveness of the government's economic reform process. She
noted the government's efforts to enact a law on state-owned enterprises to govern
their contribution to economic activities and enhance private sector
participation, in line with the State Ownership Policy Document. She pointed out that the trade wars and measures taken by the United
States are causing economic turmoil globally, which requires the international
community to take swift action to address these issues. The government is
currently studying the impact of these decisions on the local market.