In an interview on the Marketplace MiddleEast program with the renowned journalist and broadcaster Richard Quest on CNN, Rania A. Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation, noted that the Egyptian economy has become more stable and predictable despite the global challenges that impose a significant degree of uncertainty.
Al-Mashat pointed out that the government continues to implement structural reforms to ensure the sustainability of economic stability and enhance Egypt’s competitiveness as a regional export hub to Europe.
The Minister highlighted that Egypt has an industrial base that includes many essential products such as cement, steel, plastics, and processed foods, which supports manufacturing value chains.
She also emphasized that Egypt’s economic vision aims to shift from non-tradable sectors to tradable sectors, which add higher value and enhance the competitiveness of Egyptian products in global markets.
Regarding economic expectations, Al-Mashat indicated that the expected growth rate of the Egyptian economy will reach 4% by the end of the current fiscal year, with expectations for it to rise to 4.5% in the next fiscal year, despite the challenges posed by global protectionist trade policies.
Moreover, Al-Mashat outlined regional cooperation as a key factor supporting growth, noting the existence of joint economic committees with Jordan, Iraq, and other countries to enhance economic integration. In addition to strategic projects such as the electricity interconnection between Egypt and Saudi Arabia, which contributes to integrating energy networks with the Gulf countries, as well as Egypt’s strategic location as a key transit point for submarine internet cables across the Red Sea.
Al-Mashat affirmed that the state continues its efforts to ensure economic growth led by the private sector, through implementing structural reforms that enhance Egypt’s economic capabilities and provide an attractive environment for both local and international investments.