Egypt’s Prime Minister Aims for Economic Growth Exceeding 7%

Dr. Mostafa Madbouly, Egypt’s Prime Minister, announced that the government has injected significant economic resources across the nation to sustain growth and employment rates. He emphasized the government’s goal of surpassing the country’s growth rate of 7%.

During a weekly cabinet meeting and the launch event for the second edition of the State Ownership Policy Document, Madbouly stated, “The State Ownership Policy Document aims to reintegrate the private sector in driving growth, and indeed, the private sector has returned strongly, accounting for over 65% of total investments.”.

Dr. Osama El-Ghazali, Assistant to the Prime Minister, noted that there was minimal effort required in updating the document based on legislative frameworks. The second edition will focus on clarifying the state’s role in the economy by outlining seven primary functions.

He added that the State Ownership Policy Document has received numerous accolades, highlighting that there were $5.9 billion in transactions completed under its first edition.