The Egyptian Cabinet meeting, chaired by Prime Minister Mostafa Madbouly, commenced on Wednesday, September 30, 2026. The meeting aims to address several crucial files and discuss recent developments across various sectors. According to reports, Madbouly began his address by thanking President Abdel Fattah El-Sisi for organizing the meeting, which brought together senior officials, governors, and key stakeholders.
During his address, Madbouly highlighted his recent participation in the United Nations General Assembly in New York City, where he engaged with global leaders. He noted that discussions centered on an unprecedented global crisis characterized by slowing economic growth, rising inflation, and increasing debt levels. Madbouly emphasized that these challenges are not limited to developing countries but also affect major economies.
Focusing on Egypt's economic performance, Madbouly reported a 5.1% growth rate for the 2025/2026 fiscal year, one of the highest in the Middle East. He attributed this growth to the expansion of key sectors such as industry, agriculture, communications, tourism, and services. The prime minister stressed that this achievement surpasses international institutions' expectations and demonstrates Egypt's economic resilience.
Addressing inflation concerns, Madbouly noted that Egypt's inflation rate has decreased to 12.7%, down from 23.2% in January 2025. He acknowledged that citizens may not yet feel the impact of this decline in their daily lives but emphasized the government's commitment to sustaining the downward trend in inflation. This, he believes, will lead to lower prices and support production across various sectors.
The prime minister also highlighted positive trends in employment, with Egypt's unemployment rate reaching a historic low of 5.8%. He emphasized the government's focus on creating high-quality job opportunities, particularly in sectors like communications, technology, and advanced industries. Madbouly expressed optimism about increasing employment rates, especially among women, and boosting productivity to enhance income levels.
Discussing the external sector, Madbouly reported a significant increase in Egypt's foreign exchange resources, driven by a 32% rise in remittances from Egyptians abroad, totaling $35 billion from January to August 2026. He also noted a recovery in Suez Canal revenues and growth in tourism, contributing to the country's economic stability.
In conclusion, the cabinet meeting under Prime Minister Mostafa Madbouly's leadership aims to build on Egypt's economic progress, address ongoing challenges, and implement strategies for sustainable growth. Key initiatives include enhancing investment, promoting production, and managing public finances effectively. The government's efforts focus on improving living standards, fostering employment opportunities, and ensuring economic resilience in the face of global uncertainties.
Key points
- Egypt's economy grew by 5.1% in the 2025/2026 fiscal year.
- The country's inflation rate decreased to 12.7% from 23.2% in January 2025.
- Egypt's unemployment rate reached a historic low of 5.8%.
