Egypt's Minister of Planning and Economic Development, Dr. Ahmed Rustom, met with a high-level delegation from Fitch Ratings to discuss the country's economic performance and reform efforts. During the meeting, Rustom revealed that Egypt's economy grew 5.1% in the 2025/2026 fiscal year, up from 4.4% in the previous year. This growth was driven by strong performance in productive and service sectors, particularly in non-oil manufacturing and communications technology.
The growth was also supported by a resilient transportation and logistics sector, with the Suez Canal continuing to generate significant revenue despite regional challenges. Rustom highlighted the economy's ability to withstand external shocks, citing the country's diversified economy and robust infrastructure. The minister also emphasized the government's commitment to implementing economic and structural reforms to enhance competitiveness and attract investment.
Rustom reviewed the positive developments in Egypt's macroeconomic indicators, noting that government policies have helped reduce inflation to 12.7% in August 2026. He also pointed to a decline in unemployment rates to 5.8% in the second quarter of 2026, indicating a strong labor market and the economy's ability to create jobs. These developments suggest that Egypt's economy is on a sustainable growth path.
The minister stressed the government's focus on creating a favorable investment climate, with a range of measures aimed at promoting private sector growth. He highlighted the importance of export-oriented and labor-intensive sectors, such as manufacturing and tourism, in driving economic growth and job creation. Rustom emphasized that the ultimate goal of these reforms is to improve living standards and service quality for Egyptian citizens.
Rustom also discussed Egypt's future economic prospects, forecasting a growth rate of 5.2-5.4% in the current fiscal year. He attributed this outlook to expected increases in private sector investment and progress in key economic sectors. The minister expressed confidence in Egypt's economic resilience and its ability to navigate regional challenges.
The meeting with Fitch Ratings reflects Egypt's ongoing efforts to engage with international investors and rating agencies. Rustom's discussions with the delegation likely focused on Egypt's economic policies, reform progress, and future prospects. The country's ability to maintain a stable and growing economy is crucial for attracting foreign investment and promoting sustainable development.
Egypt's economic growth has been driven by a combination of factors, including investment in infrastructure, a growing private sector, and a diversified economy. The country's strategic location and access to international markets also play a significant role in its economic performance. As Egypt continues to implement economic reforms and invest in key sectors, it is likely to maintain a positive growth trajectory.
Key points
- Egypt's economy grew 5.1% in the 2025/2026 fiscal year
- The country's inflation rate declined to 12.7% in August 2026
- Egypt's unemployment rate fell to 5.8% in the second quarter of 2026
