Egypt’s economic growth accelerates to 5.3% in first half of year, planning minister says
Egypt’s economic growth reached 5.3% in the first half of the current fiscal year, marking a broad and accelerating recovery across six consecutive quarters, Minister of Planning and Economic Development Ahmed Rostom said. Growth rose from 2.4% in fiscal year (FY) 2023/24 to 4.4% in FY 2024/25, before hitting the 5.3% mark in the first […] The post Egypt’s economic growth accelerates to 5.3% in first half of year, planning minister says first appeared on Dailynewsegypt.
Black News 
Egypt’s economic growth reached 5.3% in the first half of the current fiscal year, marking a broad and accelerating recovery across six consecutive quarters, Minister of Planning and Economic Development Ahmed Rostom said.
Growth rose from 2.4% in fiscal year (FY) 2023/24 to 4.4% in FY 2024/25, before hitting the 5.3% mark in the first half of the current year, Rostom stated. He attributed the expansion to strong performances in key strategic sectors, primarily industry, trade, construction, communications, and tourism.
The current economic performance reflects a shift towards a more resilient and diversified growth model, supported by a comprehensive reform agenda and proactive policy responses, the minister said. He noted that the economy’s resilience is underpinned by ongoing fiscal and monetary reforms, as well as efforts to advance technological transformation, promote entrepreneurship, and improve the governance of public investments.
Diversifying sources of growth across industry, agriculture, and services has enhanced the economy’s capacity to absorb external shocks, Rostom added.
Looking ahead, Egypt’s objective in the next phase is to consolidate this recovery into a more sustainable and inclusive growth trajectory. This includes deepening private sector participation, localising industry, increasing export capacity, and advancing both digital and green transitions, with a focus on competitiveness and fiscal discipline, he outlined.
Rostom’s remarks were made during a panel discussion titled “Enhancing Economic Growth, Competitiveness, and Supporting the Private Sector in the Digital Age.” The session was part of a high-level conference organised by the Ministry of Planning and Economic Development, in cooperation with the Organisation for Economic Co-operation and Development (OECD), to conclude the first phase of the Egypt-OECD Country Programme.
The Country Programme comprises 35 projects implemented in joint coordination with 20 Egyptian government institutions and entities. Rostom said the collaboration has established constructive interaction and continuous knowledge exchange with OECD experts, allowing Egypt to adapt international best practices to serve national development targets. Capacity-building programmes provided by the initiative have supported development partners within national institutions, deepened the data and knowledge base, enhanced good governance, and bolstered transparency, he added.
The conference was attended by Prime Minister Mostafa Madbouly and OECD Secretary-General Mathias Cormann.
Alongside Rostom, the panel featured Minister of Investment and Foreign Trade Mohamed Farid Saleh; Egypt’s Minister of Industry Khaled Hashem; Director of the OECD Centre for Tax Policy and Administration Manal Corwin; and Hoda Baraka, Advisor to the Minister of Communications and Information Technology for Technological Skills Development and National Coordinator for Artificial Intelligence.
Participating via video conference were Nicola Pinaud, Deputy Director of the OECD Directorate for Financial and Enterprise Affairs, and Jerry Sheehan, Director of the OECD Directorate for Science, Technology and Innovation.
The post Egypt’s economic growth accelerates to 5.3% in first half of year, planning minister says first appeared on Dailynewsegypt.
