Speaking after the cabinet’s weekly meeting, Al-Mashat said the revised target is part of an updated national economic development framework, which also aims to raise the share of private investment in total investment to 66 percent and increase private investment to 11.9 percent of GDP by 2030.
The International Monetary Fund (IMF) recently revised its growth forecast for Egypt to 4.5 percent in FY 2025/26, up from 4.3 percent.
According to a cabinet statement, Al-Mashat said the revised framework places greater emphasis on human development, linking economic growth to improvements in productivity, social equity, and living standards.
The plan targets a rise in private sector-led growth, with the private sector’s contribution to GDP projected to reach 72 percent by 2030. It also sets goals to raise the contribution of manufacturing—both petroleum and non-oil—to 20 percent of GDP, and increase the agricultural sector’s share to 17.7 percent.
Officials say the framework is tied to broader objectives, including expanded healthcare coverage, higher education outcomes aligned with labour-market needs, and improved food security.
The economic narrative also outlines priorities in macroeconomic stability, industrial development, investment, foreign trade, green transition, labour-market efficiency, and non-bank financial services. Performance targets have been assigned to individual ministries, alongside the National Structural Reform Programme (NSRP) backed by the IMF under its Extended Fund Facility (EFF).
The NSRP, a multi-phase programme focused on diversifying production and improving the business environment, has secured $9.5 billion in financing for 2023–2026, according to official figures.
Prime Minister Mostafa Madbouly said tourist arrivals rose by 21 percent year on year, reaching about 19 million, while the government continues to target 30 million visitors by 2030.
Madbouly also said spending on social programmes remains a priority, citing funding exceeding EGP 48 billion for the Universal Health Insurance System (UHIS) and continued investment in the Decent Life rural development programme.
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