Speaking at a meeting with military attachés ahead of overseas postings, Al-Mashat said Egypt's economic growth has been accelerating since July 2024, led by productive sectors including industry, tourism, and information and communications technology (ICT), which she described as largely private-sector driven.
At the outset of the meeting, Al-Mashat affirmed that the Armed Forces are “the shield of the nation and its impregnable fortress,” underscoring their pivotal role in safeguarding Egypt’s borders and national security. She also highlighted the role of military attachés abroad as honourable representatives of the Egyptian state, urging them to act as ambassadors for Egypt in their respective postings.
She explained that industry and tourism account for the bulk of private investment, citing manufacturing sectors such as automotive production, chemicals, textiles, garments, and household appliances. She added that the tourism sector is almost entirely privately run, at 98 percent.
Al-Mashat said the rise in industrial output has boosted exports, while tourism is approaching pre-crisis highs. Egypt is expected to receive nearly 19 million visitors this year, she said, with tourism nights reaching record levels in the final quarter of the previous fiscal year.
She also pointed to signs of recovery in Suez Canal revenues in the quarter ending September, after sharp declines caused by regional instability and attacks on Red Sea shipping. The canal carries about 12 percent of global trade, she said, adding that disruptions have global inflationary effects.
The minister said the recovery followed reforms introduced in March 2024, including tighter controls on public investment and a cap of EGP 1 trillion on state investment to create room for private-sector expansion. She said the private sector now accounts for the largest share of bank lending, particularly in industry.
Looking ahead, Al-Mashat said the government is targeting growth of up to seven percent to support job creation, citing international assessments that credit recent reforms with restoring macroeconomic stability.
She described 2026 as a key inflection point for the economy, supported by fiscal and monetary adjustments, structural reforms, and continued investment in infrastructure, particularly ports and logistics zones, alongside higher-productivity sectors such as industry, tourism, technology, and construction.
Al-Mashat said completion of the fifth and sixth reviews under Egypt’s International Monetary Fund programme is expected to reinforce economic momentum next year.
She also outlined the government’s economic framework, the Narrative for Economic Development: Reforms for Growth, Jobs and Resilience, which prioritizes productivity-led growth and includes a human development pillar. Nearly 48 percent of public investment in the 2025/26 plan is allocated to health, education, and other human development sectors, she said.
She noted that nearly 48 percent of public investments in the FY2025/2026 plan are directed towards human development sectors, while the national structural reform programme—implemented in coordination with more than 40 national entities—includes over 430 measures covering taxation, trade, public investment governance, social protection, labour markets, renewable energy, innovation, and industrial competitiveness.
According to the minister, Egypt has secured $9.5 billion in concessional budget support for 2023–2026 through partnerships with international institutions, UN agencies, and the private sector. It has also attracted $17 billion in private-sector financing since 2020.
Renewable energy remains a strategic focus, she added, with Egypt aiming for renewables to account for 42 percent of electricity generation by 2030. Around $5 billion in concessional financing has been mobilized through Egypt's NWFE (Nexus of Water, Food and Energy) programme for renewable energy and grid upgrades through the NWFE platform.
Concluding her remarks, Al-Mashat underlined the importance of joint high-level and ministerial committees overseen by the ministry in strengthening Egypt’s economic, trade, and investment ties. She noted that Egypt oversees around 55 joint committees worldwide, completing 11 such committees in 2025 alone and signing more than 65 cooperation agreements and protocols to enhance trade and investment relations.
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