Egypt’s Prime Minister Mostafa Madbouly has unveiled an ambitious plan for the country’s economic future, aiming for a 4.2% growth rate over the next three years. This new government program, presented during a special session at the House of Representatives, focuses on addressing key challenges such as infrastructure development, economic stability, and national security. The plan outlines specific goals to boost investments, reduce inflation, and enhance the overall well-being of Egyptian citizens.
One of the primary goals of Egypt’s new government is to complete ongoing infrastructure and service projects nationwide. Prime Minister Madbouly emphasized the importance of these projects in fostering economic growth and improving the quality of life for Egyptians. The government aims to end the persistent power outages within six months, a move that is expected to significantly enhance productivity and attract foreign investments.
In addition to infrastructure development, the government is focused on mitigating the repercussions of global economic conditions. Rising prices and inflation have been major concerns, and the new program includes measures to control markets and stabilize the economy. By addressing these issues, the government hopes to create a more favorable environment for both local and international businesses.
The program also highlights the need to address challenges resulting from regional conflicts. Ensuring national security and bolstering foreign policy are crucial components of the government’s strategy. By maintaining stability and fostering international cooperation, Egypt aims to create a secure and prosperous future for its citizens.
Boosting Investments and Exports
A key aspect of the new government program is to build a competitive economy that attracts investments. Prime Minister Madbouly outlined plans to double the contribution of green economy investments to the total public investments to about 55% by 2026. This focus on sustainable development is expected to drive economic growth and create new job opportunities.
The government also aims to increase private investments to 60-65% of total investment and raise the annual growth rate of foreign direct investments to about 14% by 2030. These ambitious targets reflect the government’s commitment to creating a business-friendly environment that encourages both domestic and international investors.
In addition to attracting investments, the government plans to boost exports by more than 15% annually. This increase in exports is expected to strengthen Egypt’s economy and enhance its global trade position. The government also aims to attract 30 million tourists by 2028, leveraging the country’s rich cultural heritage and natural beauty to boost the tourism sector.
Enhancing Well-being and National Cohesion
The new government program places a strong emphasis on building the Egyptian person and enhancing their well-being. This includes improving access to education, healthcare, and social services. By investing in human capital, the government aims to create a more skilled and productive workforce that can drive economic growth and innovation.
Achieving political stability and national cohesion is another key goal of the program. The government plans to implement policies that promote social justice and inclusivity, ensuring that all citizens have the opportunity to participate in and benefit from the country’s economic development. By fostering a sense of unity and shared purpose, the government hopes to create a more resilient and cohesive society.
The program also includes measures to protect national security and bolster foreign policy. By maintaining a strong and stable government, Egypt aims to enhance its international standing and build strategic partnerships that support its economic and security goals.
