Egypt’s private sector is playing an increasingly significant role in the country’s economic growth. The Information and Decision Support Center (IDSC) reported that the private sector’s contribution to total investments reached 37 percent during the fiscal year (FY) 2023/2024. This positive trend is expected to continue, with the country’s economic plan targeting a 48 percent contribution from the private sector in FY 2024/2025.
The IDSC report, covering the period from May 2022 to June 2024, highlights the government’s commitment to supporting the private sector through a comprehensive reform program. A total of 293 measures were implemented across six key areas:Â enhancing the flexibility and reforms of exchange rate policy as well as competition and competitive neutrality, promoting the industrial sector, boosting investments, and improving the business landscape. This is in addition to reforms related to the legal, regulatory and institutional frameworks and the implementation of the State Ownership Policy Document.
Read more: What does Egypt’s new carbon market mean for the future of climate finance?
The report also indicates that a significant portion (64 percent) of the implemented measures were focused on boosting investments, improving the business landscape, and promoting the industrial sector. This demonstrates the government’s commitment to creating a more conducive environment for private sector growth and development.
Inflation goal set for early 2026
Last week, Egypt’s Prime Minister Mostafa Madbouly announced the government’s goal of reducing the country’s inflation rate to below 10 percent by early 2026.
This announcement comes as the nation’s statistics agency, CAPMAS, reported a decline in Egypt’s annual urban consumer price inflation, which slid to 25.7 percent in July from 26.5 percent in June.
For more economy news, click here.
