Egypt’s Minister of Planning and Economic Development, Ahmed Rustum, has presented the objectives of Egypt’s 2026/2027 Economic and Social Development Plan, alongside the medium-term framework extending to 2029/2030, before the Planning and Budget Committee of the House of Representatives, chaired by Mohamed Soliman. During the presentation, the minister reaffirmed that government action remains aligned with the directives of President Abdel Fattah El Sisi, focusing on improving economic conditions and delivering tangible improvements in citizens’ living standards, with priority given to the first phase of the Decent Life initiative and the expansion of the Universal Health Insurance system. Reviewing recent economic developments, the minister noted that structural reforms over recent years have strengthened the economy’s resilience amid regional and global challenges. He highlighted that economic growth in the first half of the current fiscal year reached 5.3 per cent. He stated that the 2026/2027 plan targets growth of 5.2 per cent to 5.4 per cent, rising to 6.8 per cent by the end of the medium-term framework in 2029/2030, the ministry said in a statement. “Five key sectors are expected to contribute around 64 per cent of growth, led by manufacturing (29 per cent), wholesale and retail trade (11.3 per cent), tourism (9.3 per cent), construction (7.2 per cent), and agriculture (7 per cent),” the minister said in the statement. On investments, he indicated that total investment is projected at LE 3.7 trillion, including LE 1.5 trillion in public investment (41 per cent) and LE 2.2 trillion in private investment (59 per cent). He stressed continued improvement in public investment governance and spending efficiency to expand private sector participation. He further noted that the investment rate is targeted to reach around 20 per cent of GDP by 2029/2030, with private investment rising to 64 per cent of total investment. Rustum also confirmed that human development remains a core priority, with a 25 per cent increase in health and population allocations, a 57 per cent rise in social solidarity programmes, and an 11 per cent increase in education and higher education funding, alongside accelerated implementation of comprehensive health insurance. The post Egypt targets GDP growth of 5.4% in next FY appeared first on Egyptian Gazette.
