The meeting was
attended by Dr. Youssef Boutros Ghali, former Minister of Finance, Dr. Hani
Kadry Demian, former Minister of Finance, Eng. Ashraf Sabry, Founder, Chief
Executive Officer and Managing Director of Fawry, Eng. Mohamed El-Sewedy,
Chairman of the Federation of Egyptian Industries, Karim Awad, Chief Executive
Officer of EFG Holding, Counselor Mohamed Abdel-Wahab, Supervisor of the
General Secretariat of the Specialized Councils, along with a number of council
members.
Dr. Al-Mashat
expressed her pleasure at meeting the Specialized Council for Economic
Development. She noted that the council brings together prominent economic
figures with extensive experience. She stressed the importance of cooperation
within a framework of integration and coordination of efforts to advance
comprehensive economic development and sustain Egypt’s economic reform path.
Al-Mashat reviewed the
pillars of the National Narrative for Economic Development. She said the
narrative represents an integrated framework reflecting the state’s philosophy
in managing the economy. She added that it sets clear foundations for inclusive
growth based on stability, production, private sector empowerment and social
justice. She noted that the framework is grounded in the Unified Public Finance
Law No. 6 of 2022 and the State General Planning Law No. 18 of 2022.
The Minister addressed
the stages of preparing the national narrative with the participation of
various ministries and relevant entities. She highlighted the societal dialogue
that has taken place since its launch last September. She explained that this
process included structured discussions through working groups dedicated to
each chapter of the National Narrative for Economic Development. She also
referred to interactive public dialogue through contributions from experts and
academics, in addition to numerous articles and analytical writings.
She pointed to
progress in implementing the National Structural Reform Program and a number of
measures successfully carried out by the government. She said these steps have
contributed to strengthening macroeconomic stability, improving the business
environment and investment climate, and accelerating the transition toward a
green economy.
She addressed the
Economic and Social Development Plan and the Medium Term Budget Framework for
the period from 2026 2027 to 2029 2030. She said the plan is being prepared in
coordination with the Ministry of Finance. She explained that this comes in
light of applying the program and performance methodology, which enhances
monitoring, performance evaluation and periodic review of national, sectoral
and spatial policies and objectives. She added that it reinforces the
commitment of all entities to provide the data and information required to
monitor and assess programs, projects and activities.
Dr. Al-Mashat
emphasized that implementing the program and performance methodology increases
the effectiveness of development plans and targeted outcomes. She said it
ensures efficiency in public spending by linking budget allocations to results.
She noted that preparing the development plan and the medium term budget
framework is aligned with the State General Planning Law issued in 2022. She
added that the law aims to maximize the efficiency and effectiveness of the
planning process and strengthen integration between urban plans and economic
and social development plans.
The Minister also
reviewed the transformation in Egypt’s economic growth model, which has
recorded continuous improvement since July 2024. She said growth reached 5.3
percent in the first quarter of the current fiscal year. She added that
expectations point to growth exceeding 5 percent by the end of the year. She
also highlighted the government’s integrated efforts to shift toward higher
productivity sectors.