CAIRO – 22 April 2024: Minister of Planning and Economic Development, Hala El-Said, announced that Egypt has set a target to increase the private sector's share of investments to 48 percent in the fiscal year (FY) 2024/2025, during the event held by the London Stock Exchange Group (LSEG).
In addition, the country aims to achieve a total of LE 2 trillion in private-sector investments for FY2023/2024.
Over the past three years, Egypt has been actively working to boost private sector investments, starting at 27 percent and gradually increasing to 32 percent. The current objective is to reach a target of 36 percent by the end of FY2023/2024.
Minister El-Said expressed her expectations for a 6 percent growth rate in the industrial sector and a growth rate exceeding 4 percent in the agricultural sector.
She also highlighted the significance of the communications and information technology sector, which currently contributes around 16.5 to 17 percent to the economy.
This sector has achieved 3 percent of the overall economic growth and aims to increase its contribution to 5 percent.
Due to geopolitical changes, the original growth rate target of 4 percent for FY2023/2024 has been revised to a range of 2.9 to 3 percent.
Looking ahead, Egypt aims to achieve a growth rate of 4.2 percent during FY2024/2025, emphasizing the importance of diversified growth that relies on multiple sectors.
The minister highlighted Egypt's competitive advantages in the tourism and logistics sectors due to its strategic location and infrastructure investments. These sectors are the main focus of the structural reforms plan, aiming to increase their weight in the economy from 25 to 35 percent by 2026.
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