This came on the sidelines of the 48th annual meeting of the Council of Arab Central Banks.

Madbouly highlighted that the Egyptian government aims to increase the investments and exports’ share in the GDP structure by about 50 percent, supporting operating rates, to provide 8 million jobs during 2024-2030. 

He added that global tensions have resulted in the expansion of inflationary waves, noting that they have affected the prioritization of economic policies, especially monetary policy. 

Global economic growth outlook
 

Madbouly said that the increased interest rate has an unfavourable impact on economic growth and development finance in most developing countries and emerging market economies.

He noted that the investment gap required to achieve the objectives of Egypt’s 2030 Sustainable Development Strategy estimated by the United Nations reaches $4 trillion. 

Madbouly also mentioned that the real transformation of the Arab region economies is based on a large surge in the investment sector and accelerating the pace of the shift in energy use.

He added that Egypt has taken significant steps toward a green economy, referencing the Egypt National Climate Change Strategy 2050 launched in 2022, aimed at strengthening Egypt's leadership in addressing global climate change.

Madbouly highlighted the relative strength of the global economy, which has managed to avoid slipping into recession despite central banks worldwide raising interest rates to combat inflation.

Citing estimates from the International Monetary Fund (IMF), he noted that global GDP growth is projected to reach 3.2 percent in 2024 and 3.3 percent in 2025, reflecting a degree of stability in the global economic outlook.

He pointed out that rapid technology advancements, particularly in artificial intelligence (AI), are expected to significantly alter labour markets.

This was based on IMF estimates that 40 percent of traditional jobs globally will be affected by increased reliance on AI applications.