Egypt’s Ministers of Planning and Economic Development official facebook page
The discussions focused on recent macroeconomic stabilisation efforts, structural reforms, and measures to strengthen public investment governance and expand private-sector participation. They also covered progress at the financial, institutional, and trade levels since the last IMF disbursement, according to statements from both ministries.
In her meeting, Al-Mashat stated that Egypt’s GDP grew 5.3 percent in the first quarter of the current fiscal year, surpassing expectations. She attributed the growth to stronger industrial output and expansion across sectors, including vehicles, textiles, and ready-made garments—signalling a shift towards more productive, tradable industries.
Al-Mashat added that maintaining the reform momentum could help Egypt achieve at least 5 percent growth by year-end.
She presented the Public Investment Governance Report for the previous fiscal year, noting that adherence to the EGP 1 trillion public investment ceiling had allowed for greater private-sector engagement.
The minister also outlined the National Narrative for Economic Development, a framework aligning Egypt’s Vision 2030 with sectoral strategies to steer the economy toward production- and export-led growth.
She reviewed ongoing measures to boost public-sector efficiency and implement the State Ownership Policy Document, aimed at empowering the private sector and improving the management of state assets. As part of this effort, she highlighted the establishment of the State-Owned Enterprises Unit.
Al-Mashat also pointed to new reforms that enhance economic resilience, including two additional renewable energy projects under the country’s flagship NWFE (Nexus of Water, Food, and Energy) climate programme and the integration of climate considerations into investment planning. She stressed the government’s commitment to sustaining reforms to strengthen resilience and create jobs.
In the second meeting, El-Khatib expressed optimism about the IMF review process, saying the economy is broadly in line with programme expectations.
“Many indicators are performing better than anticipated under the IMF programme, reflecting the effectiveness of government measures,” the ministry statement quoted him as saying.
He said disciplined policies are being applied to maintain macroeconomic stability, expand space for private-sector growth, improve the investment climate, and enhance trade efficiency to position Egypt as a regional hub for exports and supply chains.
El-Khatib also underscored ongoing digital transformation efforts to streamline business procedures, including digital licensing and economic-entity platforms designed to increase transparency and operational efficiency. He noted reforms to simplify procedures, reduce non-tax burdens, and offer investors a clearer framework for long-term planning and expansion.
According to the statement, the IMF mission praised Egypt’s progress in investment and trade reforms, noting that the country’s economic vision had become clearer and more coherent. Fund officials said the talks were held in a positive atmosphere and commended the pace of reforms, which they said was helping to bolster confidence and attract value-added investment.
The mission, which arrived in Cairo on Monday and is scheduled to conclude on 14 December, is assessing policy actions under the $8 billion Extended Fund Facility (EFF) programme.
Completion of the fifth and sixth reviews will unlock $2.5 billion before year-end. Egypt has received around $3.2 billion following the first four reviews.
The IMF said the dual-review approach provides additional time for finalising key policy measures, particularly those aimed at expanding the private sector’s role in the economy.
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