Egyptian Planning Minister Dr. Ahmed Rustom recently met with a high-level delegation from Fitch Ratings, a leading international credit rating agency, to discuss Egypt's economic reforms and current performance. The meeting aimed to review the latest indicators of Egypt's economic performance and discuss the government's efforts to continue its economic and structural reform path. This comes amid regional and global challenges that have impacted economic growth.
During the meeting, Dr. Rustom emphasized the government's commitment to implementing its economic and structural transformation program, which aims to enhance competitiveness. The program includes a package of measures and policies designed to create an attractive and stimulating investment environment for both local and foreign private sectors. The focus is on export-oriented and productive sectors that are labor-intensive, which can help drive economic growth and improve living standards.
The Egyptian economy has shown resilience, achieving a growth rate of 5.1% in the 2025/2026 fiscal year, up from 4.4% in the previous year. This recovery is attributed to strong growth in productive and service sectors with high added value, particularly in the manufacturing and communications sectors. The transportation and logistics sector has also demonstrated its ability to withstand challenges, with continued growth in Suez Canal revenues despite disruptions in regional shipping.
Dr. Rustom highlighted the positive developments in key economic indicators, noting that government policies have helped put inflation on a sustainable downward path, reaching 12.7% in August 2026. Additionally, unemployment rates have declined to 5.8% in the second quarter of 2026, indicating a strong labor market and the economy's ability to create jobs. These developments reflect the government's efforts to balance economic growth with social welfare objectives.
The Planning Minister also discussed future economic prospects, expecting the recovery to continue with a growth rate of 5.2% to 5.4% in the current fiscal year. This outlook is based on anticipated investment expansions in the private sector and positive progress in key economic sectors. The government's commitment to economic reforms and investment promotion is crucial in driving sustainable growth and improving living standards.
The meeting with Fitch Ratings reflects the Egyptian government's efforts to engage with international stakeholders and investors, demonstrating its commitment to transparency and accountability. The government's economic reform program aims to create a more favorable business environment, attract investment, and drive economic growth. This, in turn, is expected to improve living standards and provide better services to Egyptian citizens.
The ongoing dialogue between the Egyptian government and international institutions like Fitch Ratings is essential in assessing the country's economic performance and providing guidance on future reforms. By maintaining a strong and open dialogue, Egypt can continue to attract investment, drive economic growth, and improve its credit rating, ultimately benefiting its citizens and economy.
Key points
- Egypt's economy achieved a growth rate of 5.1% in the 2025/2026 fiscal year.
- The government's economic reform program aims to enhance competitiveness and attract investment.
- Inflation rates have declined to 12.7% in August 2026, and unemployment rates have dropped to 5.8% in the second quarter of 2026.
