Egypt’s new government seeks 4.2 per cent economic growth in next three years – World News Network

Last updated: July 9, 2024 12:00 am

2 Min Read

Cairo [Egypt], July 9 (ANI/WAM): Egypt’s Prime Minister Mostafa Madbouly outlined on Monday his new cabinet’s programme for the coming three years during a special session at the country’s House of Representatives.
Madbouly said the new government will be tasked with handling the country’s pressing challenges, including those related to economic, and security pillars.
The prime minister said the programme is tailored to address three main challenges: completing the infrastructure and services projects nationwide, mitigating the repercussions of the global economic conditions, and addressing the challenges resulting from regional conflicts.
According to the Ahram Online, Madbouly vowed to end the power outage problem within six months, reduce rising prices and inflation, and control markets.
The program – which covers the period from 2024-2025 to 2026-2027 – focuses on four key pillars: protecting national security and bolstering foreign policy, Building the Egyptian person and enhancing his well-being, Building a competitive economy that attracts investments.
Achieving political stability and national cohesion.
On building a competitive economy that attracts investments, Madbouly said the new government seeks to achieve a growth rate of 4.2 per cent and growth rates exceeding 5 per cent on average during the three-year programme period, double the contribution of the green economy investment to the total public investments to about 55 per cent in 2026, increase private investments to 60-65 per cent of total investment and raising the annual growth rate of foreign direct investments to about 14 per cent by 2030, increase exports by more than 15 per cent annually and attract 30 million tourists by 2028. (ANI/WAM)

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